The Crypto Daily – Movers and Shakers – January 15th, 2021It’s a mixed start to the day for the majors. A Bitcoin move back through to $40,000 would support the pack.
Bitcoin, BTC to USD, rose by 4.73% on Thursday. Following on from a 9.54% rally on Wednesday, Bitcoin ended the day at $39,136.0.
It was a mixed start to the day. Bitcoin fell to an early morning low $36,666.0 before making a move.
Steering clear of the first major support level at $33,937, Bitcoin rallied to an early afternoon intraday high $40,001.0.
Bitcoin broke through the first major resistance level at $39,277 to test resistance at $40,000 before easing back.
A late pullback saw Bitcoin fall back through the first major resistance level to wrap up the day at $39,130 levels.
The near-term bullish trend remained intact, supported by the latest visit to $40,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 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.
It was a bullish day for the rest of the majors, however.
In the current week, the crypto total market cap fell to a Monday low $804.33bn before rising to a Thursday high $1,083.43bn. At the time of writing, the total market cap stood at $1,055.94bn.
Bitcoin’s dominance rose from a Monday low 68.39% to a Thursday high 70.28%. At the time of writing, Bitcoin’s dominance stood at 69.36%.
At the time of writing, Bitcoin was up by 0.88% to $39,481.0. A mixed start to the day saw Bitcoin fall to an early morning low $39,025.0 before rising to a high $39,701.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Cardano’s ADA and Polkadot were down by 0.21% and by 1.69% to buck the trend early on.
It was a bullish start to the day for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 2.82% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $38,601 to bring the first major resistance level at $40,536 into play.
Support from the broader market would be needed for Bitcoin to break back through to $40,000 levels.
Barring an extended crypto rally, first major resistance level and resistance at $41,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at the all-time high $41,969 before any pullback. The second major resistance level sits at $41,936.
Failure to avoid a fall through the $38,601 pivot would bring the first major support level at $37,201 into play.
Barring another extended crypto sell-off, Bitcoin should continue to steer clear of sub-$36,000 levels. The second major support level sits at $35,266.