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

Bitcoin, BTC to USD, fell by 1.05% on Tuesday. Following a 3.42% slide on Monday, Bitcoin ended the day at $32,730.0.

After a mixed start to the day, Bitcoin rose to a late morning intraday high $33,337.0 before hitting reverse.

Falling short of the first major resistance level at $34,289, Bitcoin slid to a late intraday low $32,190.0.

Bitcoin fell through the first major support level at $32,234 before a partial recovery to $32,700 levels.

The near-term bullish trend remained intact, in spite of the latest return to $32,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Crypto.com Coin bucked the trend, rising by 1.85%.

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

Ethereum led the way down once more, sliding by 4.43%.

Binance Coin (-2.29%), Cardano’s ADA (-3.66%), Chainlink (-3.65%), and Polkadot (-3.37%) also struggled.

Bitcoin Cash SV (-0.80%), Litecoin (-1.45%), and Ripple’s XRP (-1.76%) saw relatively modest losses, however

Early in the week, the crypto total market rose to a Monday high $1,408bn before falling to a Tuesday low $1,294bn. At the time of writing, the total market cap stood at $1,319bn.

Bitcoin’s dominance fell to a Tuesday low 45.73% before rising to a Tuesday high 46.65%. At the time of writing, Bitcoin’s dominance stood at 46.43%.

This Morning

At the time of writing, Bitcoin was down by 0.23% to $32,655.0. A mixed start to the day saw Bitcoin rise to an early morning high $32,813.0 before falling to a low $32,655.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin and Ripple’s XRP found early support, rising by 0.32% and by 0.20% respectively.

It’s been a bearish start for the rest of the majors, however.

At the time of writing, Polkadot was down by 0.50% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $32,752 pivot to bring the first major resistance level at $33,315 into play.

Support from the broader market would be needed for Bitcoin to break back through to $33,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $33,337.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $34,000 levels before any pullback. The second major resistance level sits at $33,899.

Failure to move back through the $32,752 pivot would bring the first major support level at $32,168 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $31,605 should limit the downside.