The Crypto Daily – Movers and Shakers – April 10th, 2021It’s a mixed start to the day for the majors. A Bitcoin move through to $58,500 would deliver support to the broader market.
Bitcoin, BTC to USD, rose by 0.04% on Friday. Following on from a 3.84% gain on Thursday, Bitcoin ended the day at $58,134.0.
A mixed start to the day saw Bitcoin fall to a late morning intraday low $57,713.0 before making a move.
Steering clear of the first major support level at $56,498, Bitcoin rallied to a late morning intraday high $58,777.0.
Falling short of the first major resistance level at $58,939, Bitcoin eased back to sub-$58,000 levels.
Finding late support, however, Bitcoin broke back through to $58,000 levels to end the day flat.
The near-term bullish trend remained intact in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a mixed day on Friday.
It was a bearish day for the rest of the majors, however.
In the current week, the crypto total market rose to a Tuesday high $1,992bn before falling to a Wednesday low $1,782bn. At the time of writing, the total market cap stood at $1,916bn.
Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Wednesday low 55.75%. At the time of writing, Bitcoin’s dominance stood at 56.46%.
At the time of writing, Bitcoin was down by 0.30% to $57,958.1. A mixed start to the day saw Bitcoin rise to an early morning high $58,311.0 before falling to a low $57,924.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (+0.33%), Crypto.com Coin (+0.67%), and Ripple’s XRP (+0.05%) found early support.
It was a bearish start for the rest of the majors, however.
At the time of writing, Litecoin was down by 0.62% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the pivot level at $58,245 to bring the first major resistance level at $58,777 into play.
Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $59,420.
Failure to move back through the $58,245 pivot would bring the first major support level at $57,602 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,070 should limit the downside.