The Crypto Daily – Movers and Shakers – January 3rd, 2021

Bitcoin, BTC to USD, surged by 9.65% on Saturday. Following on from a 1.42% gain on Friday, Bitcoin ended the day at $32,183.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $29,000.0 before making a move.

Steering clear of the first major support level at $28,837, Bitcoin rallied to an early evening intraday high $33,292.0.

The day-long rally saw Bitcoin break through the day’s major resistance levels to hit a new swing hi and all-time high before easing back.

In spite of a pullback to $32,100 levels, Bitcoin avoided a fall back through the third major resistance level at $31,036.

The near-term bullish trend remained intact, supported by the latest breakthrough to $33,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $15,190 to form a near-term bearish trend.

The Rest of the Pack

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

Ripple’s XRP slid by 7.16% to buck the trend on the day.

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

Crypto.com Coin and Litecoin rallied by 10.53% and by 8.38% to lead the way, with Ethereum rising by 6.06%.

Binance Coin (+1.18%), Bitcoin Cash SV (+2.55%), Cardano’s ADA (+1.31%), Chainlink (+2.85%), Polkadot (+1.43%) and saw relatively modest gains on the day.

In the current week, the crypto total market cap fell to a Tuesday low $678.76bn before surging to a Saturday high $866.00bn. At the time of writing, the total market cap stood at $830.22bn.

Bitcoin’s dominance fell to a Monday low 69.13% before rising to a Saturday high 72.92%. At the time of writing, Bitcoin’s dominance stood at 72.62.

This Morning

At the time of writing, Bitcoin was up by 0.82% to $32,447.9. A mixed start to the day saw Bitcoin fall to an early morning low $31,975.0 before rising to a high $32,501.0.

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

Elsewhere, it was a mixed start to the day.

Chainlink (+0.28%), Ethereum (+0.50%), and Litecoin (+0.54%) joined Bitcoin in the green, with Bitcoin Cash SV flat.

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

At the time of writing, Crypto.com Coin was down by 7.52% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $31,492 to bring the first major resistance level at $33,983 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $33,292.0.

Barring an extended crypto rally, the first major resistance level and resistance at $34,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $35,784.

Failure to avoid a fall through the $31,492 pivot would bring the first major support level at $29,691 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$29,000 levels. The second major support level sits at $27,200.