The Crypto Daily – Movers and Shakers – April 16th, 2021It’s a mixed start to the day for the majors. A Bitcoin move back through to $64,000 levels would support a broad-based crypto rally.
Bitcoin, BTC to USD, rose by 0.46% on Thursday. Partially reversing a 0.95% decline from Wednesday, Bitcoin ended the day at $63,196.0.
A mixed start to the day saw Bitcoin fall to a late morning intraday low $62,000.0 before making a move.
Steering clear of the first major support level at $61,204, Bitcoin struck a late intraday high $63,845.0.
Falling well short of the first major resistance level at $64,727, Bitcoin eased back to end the day at sub-$63,200 levels.
The near-term bullish trend remained intact supported by the latest move through to $64,000 levels. For the bears, Bitcoin would need to slide 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 mixed day on Thursday.
Ripple’s XRP slid by 4.17% to lead the way down
Binance Coin (-1.36%) and Polkadot (-0.02%) also saw red to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Bitcoin Cash SV rallied by 12.38% to lead the way.
Cardano’s ADA (+1.93%) and Polkadot (+1.87%) and trailed the front runners, however.
In the current week, the crypto total market fell to a Monday low $1,959bn before rising to a Wednesday high $2,259bn. At the time of writing, the total market cap stood at $2,214bn.
Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Thursday low 52.92%. At the time of writing, Bitcoin’s dominance stood at 53.53%.
At the time of writing, Bitcoin up by 0.28% to $63,5.037. A mixed start to the day saw Bitcoin fall to an early morning low $63,083.2 before rising to a high $63,417.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.47%), Cardano’s ADA (-0.06%), and Polkadot (-0.05%) 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 1.68% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $63,014 to bring the first major resistance level at $64,027 into play.
Support from the broader market would be needed for Bitcoin to break back through to $64,000 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at Wednesday’s swing hi $64,829.0 before any pullback. The second major resistance level sits at $64,859.
Failure to avoid a fall through the $63,014 pivot would bring the first major support level at $62,182 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $61,169.