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

Bitcoin, BTC to USD, rose by 0.88% on Friday. Partially reversing a 4.30% slide from Thursday, Bitcoin ended the day at $33,816.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $33,983.0 before hitting reverse.

Falling short of the first major resistance level at $34,842, Bitcoin fell to a mid-morning intraday low $32,700.0.

Steering clear of the first major support level at $32,493, however, Bitcoin revisited $33,900 levels before easing back.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 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 Friday.

Cardano’s ADA rallied by 4.75% to lead the way, with Chainlink (+0.17%) and Ethereum (+2.29%) also joining Bitcoin in the green.

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

Bitcoin Cash SV (-1.43%) and Crypto.com Coin (-1.24%) led the way down.

Binance Coin (-0.12%), Litecoin (-0.09%), Polkadot (-0.13%), and Ripple’s XRP (-0.34%) saw relatively modest losses, however.

In the current week, the crypto total market rose to a Tuesday high $1,485bn before falling to a Friday low $1,319bn. At the time of writing, the total market cap stood at $1,376bn.

Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Thursday low 45.54%. At the time of writing, Bitcoin’s dominance stood at 45.94%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to 33,727.0. A mixed start to the day saw Bitcoin rise to an early morning high $33,942.0 before falling to a low $33,716.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend early on, rising by 1.89%.

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

At the time of writing, Cardano’s ADA was down by 0.65% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $33,500 pivot to bring the first major resistance level at $34,299 into play.

Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $35,000 levels before any pullback. The second major resistance level sits at $34,783.

A fall through the $33,500 pivot would bring the first major support level at $33,016 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level at $32,217 should limit the downside.