The Crypto Daily – Movers and Shakers – April 14th, 2021

Bitcoin, BTC to USD, rose by 6.09% on Tuesday. Reversing a 0.26% decline from Monday, Bitcoin ended the day at $63,537.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $59,859.0 before making a move.

Steering clear of the first major support level at $59,131, Bitcoin surged to a final hour intraday high and a new swing hi $63,555.0.

Bitcoin broke through first major resistance level at $60,977 and the second major resistance level at $62,081.

While falling short of the third major resistance level at $63,927, Bitcoin held on to close out the day at $63,500 levels.

The near-term bullish trend remained intact supported by the latest move through to $63,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,750 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Binance Coin slid by 7.60%, with Polkadot falling by 0.07% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Ripple’s XRP jumped by 22.24% to lead the way, with Bitcoin Cash SV rallying by 12.66%.

Cardano’s ADA (+7.50%), Chainlink (+7.22%), Crypto.com Coin (+7.00%), Ethereum (+7.57%), and Litecoin (+8.56%) also made solid gains.

Early in the week, the crypto total market fell to a Monday low $1,959bn before rising to a Tuesday high $2,195bn. At the time of writing, the total market cap stood at $2,146bn.

Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Tuesday low 54.27%. At the time of writing, Bitcoin’s dominance stood at 55.22%.

This Morning

At the time of writing, Bitcoin down by 0.42% to $63,270.0. A mixed start to the day saw Bitcoin rise to an early morning high and a new swing hi $63,732.0 before falling to a low $63,166.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.40%), Ethereum (-0.08%), and Polkadot (-0.48%) also saw red early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 2.97% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $62,317 to bring the first major resistance level at $64,775 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s new swing hi $63,732.0.

Barring an extended crypto rally, the first major resistance level and resistance at $65,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $68,000 before any pullback. The second major resistance level sits at $66,013.

Failure to avoid a fall back through the $62,317 pivot would bring the first major support level at $61,079 into play.

Barring another extended sell-off on the day, Bitcoin should steer well clear of sub-$60,000 levels. The second major support level sits at $58,621.