The Crypto Daily – Movers and Shakers – December 19th, 2020It’s a mixed start to the day for the majors. A Bitcoin move through to $23,500 levels would signal another breakout.
Bitcoin, BTC to USD, rose by 1.46% on Friday. Following on from a 6.89% rally on Thursday, Bitcoin ended the day at $23,124.0.
It was a mixed start to the day. Bitcoin slipped to an early morning low $22,466.0 before making a move.
Steering clear of the first major support level at $21,445, Bitcoin rose to a late morning intraday high $23,287.0.
Falling short of the first major resistance level at $23,878, however, Bitcoin slid back to a mid-afternoon intraday low $22,362.0.
Steering clear of the major support levels once more, Bitcoin moved back through to $23,000 levels to end the day in the green.
The near-term bullish trend remained intact, supported by the breakthrough to $23,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $11,500 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was another mixed day on Friday.
Litecoin rallied by 8.31% to lead the way.
It was a bearish day for the rest of the majors, however.
For the current week, the crypto total market cap fell to a Monday low $545.05bn before rising to a Thursday high $679.01bn. At the time of writing, the total market cap stood at $643.64bn.
Bitcoin’s dominance fell to a Monday low 64.21% before rising to a Friday high 66.72%. At the time of writing, Bitcoin’s dominance stood at 66.38%.
At the time of writing, Bitcoin was down by 0.71% to $22,960.0. A mixed start to the day saw Bitcoin rise to an early morning high $23,188.0 before falling to a low $22,952.0
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin and Polkadot bucked the trend early on, with gains of 0.53% and 0.17% respectively.
It was a bearish start for the rest of the majors, however.
At the time of writing, Ripple’s XRP was down by 1.58% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $22,924 to bring the first major resistance level at $23,487 into play.
Support from the broader market would be needed for Bitcoin to break out from Friday’s high $23,287.0.
Barring an extended crypto rally, the first major resistance level and resistance at $23,500 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $24,000 before any pullback. The second major resistance level sits at $23,849.
Failure to avoid a fall through the $22,924 pivot would bring the first major support level at $22,562 into play.
Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$22,000 levels. The second major support level sits at $21,999.