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

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Updated: Feb 14, 2021, 00:35 UTC

It's a mixed start to the day for the majors. A Bitcoin move back through to $48,500 levels would bring $50,000 into view.

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

The Rest of the Pack

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

Bitcoin Cash SV and Litecoin jumped by 12.77% and by 14.92% respectively to lead the way, with Chainlink rallying by 11.50%.

Crypto.com Coin (+5.26%) and Ripple’s XRP (+3.91%) also found support on the day.

It was a bearish day for the rest, however.

Binance Coin (-2.59%), Cardano’s ADA (-1.27%), Ethereum (-1.45%), and Polkadot (-2.04%) joined Bitcoin in the red.

In the current week, the crypto total market cap fell to a Monday low $1,145.36bn before surging to a Friday high $1,510.61bn. At the time of writing, the total market cap stood at $1,453.99bn.

Bitcoin’s dominance jumped to a Tuesday high 64.76% before sliding to a Saturday low 59.76%. At the time of writing, Bitcoin’s dominance stood at 60.42%.

This Morning

At the time of writing, Bitcoin was.

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

Elsewhere, it was another mixed start to the day.

Binance Coin (-0.71%), Cardano’s ADA (-0.20%), Chainlink (-0.03%), Ethereum (-0.42%), and Litecoin (-1.01%) joined Bitcoin in the 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 2.44% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $47,214 to bring the first major resistance level at $48,172 into play.

Support from the broader market would be needed for Bitcoin to break back through to $48,000 levels.

Barring an extended crypto rally, the first major resistance level and Saturday’s high $48,209.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $49,168.

Failure to move back through the $47,214 pivot would bring the first major support level at $46,218 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $45,260.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.