The Crypto Daily – Movers and Shakers – December 21st, 2020

Bitcoin, BTC to USD, fell by 1.57% on Sunday. Partially reversing a 2.96% gain from Saturday, Bitcoin ended the week up by 22.14% to $23,427.0.

It was another mixed start to the day. Bitcoin fell to an early morning intraday low $23,101.0 before making a move.

Steering clear of the first major support level at $23,010, Bitcoin rallied to a late intraday high $24,244.0.

Falling short of the first major resistance level at $24,365, however, Bitcoin fell back to the early intraday low $23,101.

Continuing to steer clear of the major support levels, Bitcoin moved back through to $23,400 levels to limit the downside.

The near-term bullish trend remained intact, supported by the latest breakthrough to $24,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $11,687 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was yet another mixed day on Saturday.

Binance Coin (+2.92%), Bitcoin Cash SV (+2.68%), and Crypto.com Coin (+1.66) bucked the trend on the day.

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

Litecoin and Ripple’s XRP slid by 4.49% and by 3.58% respectively to lead the way down.

Chainlink (-3.13%) and Ethereum (-3.10%) also struggled on the day.

Cardano’s ADA (-1.42%) and Polkadot (-1.38%) saw relatively modest losses, however.

For the week, it was also mixed for the majors.

Polkadot slid by 13.5% to buck the trend for the week.

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

Litecoin led the way, surging by 39.48% to lead the way.

Binance Coin (+17.79%) and Crypto.com Coin (+10.51%) also found strong support.

Bitcoin Cash SV (+7.36%), Cardano’s ADA (+5.33%), Chainlink (+1.07%), Ethereum (+8.12%), and Ripple’s XRP (+8.41%) trailed the front runners, however.

For the week, the crypto total market cap fell to a Monday low $545.05bn before rising to a Saturday high $680.60bn. At the time of writing, the total market cap stood at $657.06bn.

Bitcoin’s dominance fell to a Monday low 64.21% before rising to a Sunday high of 67.44%. At the time of writing, Bitcoin’s dominance stood at 66.97%.

This Morning

At the time of writing, Bitcoin was up by 1.04% to $23,671.0. A mixed start to the day saw Bitcoin fall to an early morning low $23,280.0 before rising to a high $23,685.0.

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

Elsewhere, it was a mixed start to the day for the majors.

Polkadot was down by 0.24% to buck the trend early on.

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

At the time of writing, Bitcoin Cash SV was up by 4.65% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $23,591 to bring the first major resistance level at $24,080 into play.

Support from the broader market would be needed for Bitcoin to break back through to $24,000 levels.

Barring an extended crypto rally, the first major resistance level Sunday’s high $24,244.0 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $25,000 before any pullback. The second major resistance level sits at $24,734.

Failure to avoid a fall back through the $23,591 pivot would bring the first major support level at $22,937 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$22,500 levels. The second major support level sits at $22,448.