The Crypto Daily – Movers and Shakers – July 25th, 2021
Bitcoin, BTC to USD, rose by 1.87% on Saturday. Following a 4.11% rally on Friday, Bitcoin ended the day at $34,279.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,422.0 before making a move.
Steering clear of the first major support level at $32,572, Bitcoin rallied to a late afternoon intraday high $34,527.0.
Bitcoin broke through the first major resistance level at $34,177 before a pullback to $33,700 levels.
Late in the day, however, Bitcoin broke back through the first major resistance level to end the day at $ $34,200 levels.
The near-term bullish trend remained intact, in spite of the latest return to $29,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a bullish day on Saturday.
Ethereum rose by 2.83% to lead the way, with Cardano’s ADA (+2.11%) and Crypto.com Coin (+2.54%) close behind.
Binance Coin (+0.78%), Chainlink (+1.26%), Litecoin (+1.46%), Polkadot (+0.83%), and Ripple’s XRP (+0.01%) trailed the front runners, however, with modest gains.
Bitcoin Cash SV ended the day flat.
In the current week, the crypto total market fell to a Tuesday low $1,154bn before rising to a Saturday high $1,410bn. At the time of writing, the total market cap stood at $1,371bn.
Bitcoin’s dominance rose to a Tuesday high 47.63% before falling to a Thursday low 45.91%. At the time of writing, Bitcoin’s dominance stood at 46.48%.
This Morning
At the time of writing, Bitcoin was down by 0.91% to $33,966.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,486.0 before falling to a low $33,951.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin bucked the trend early on, rising by 0.18%.
It was a bearish day for the rest of the majors, however.
At the time of writing, Chainlink was down by 2.43% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the $34,076 pivot to bring the first major resistance level at $34,730 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $34,527.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at $35,000 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $35,181.
Failure to move back through the $34,076 pivot would bring the first major support level at $33,625 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level at $32,971 should limit the downside.
This article was originally posted on FX Empire
