The Crypto Daily – Movers and Shakers – July 5th, 2021

Bitcoin, BTC to USD, rose by 1.69% on Sunday. Following a 2.55% gain on Saturday, Bitcoin ended the week up by 1.53% to $35,276.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $34,376.0 before making a move.

Steering clear of the first major support level at $33,705, Bitcoin rallied to a late intraday high $35,950.0.

Bitcoin broke through the first major resistance level at $35,303 and the second major resistance level at $35,925.

A bearish end to the day, however, saw Bitcoin fall back through the second major resistance level to end the day at sub-$35,300 levels.

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 bullish end to the week.

Crypto.com Coin and Ethereum rose by 4.49% and by 4.30% to lead the way.

Binance Coin (+3.15%), Cardano’s ADA (+3.99%), Chainlink (+3.92%), Litecoin (+3.37%), and Ripple’s XRP (+3.58%) also found strong support.

Bitcoin Cash SV (+2.06%) and Polkadot (+1.18%) trailed the front runners, however.

It was a bullish week for the majors in the week ending 4^th July.

Bitcoin Cash SV (+15.66%), Crypto.com Coin (+20.53%) and Ethereum (+17.05%) led the way.

Binance Coin (+5.78%), Cardano’s ADA (+9.26%), Chainlink (+4.71%), Litecoin (+9.25%), Polkadot (+4.69%), and Ripple’s XRP (+7.40%) trailed the front runners, however.

In the 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 $1,441bn.

Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Sunday low 45.42%. At the time of writing, Bitcoin’s dominance stood at 45.53%.

This Morning

At the time of writing, Bitcoin was down by 0.83% to $34,983.0. A bearish start to the day saw Bitcoin fall from an early morning high $35,280.0 to a low $34,851.0.

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

Elsewhere, it was a mixed start to the day.

Polkadot bucked the trend early on, rising by 0.38%.

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

At the time of writing, Crypto.com Coin was down by 1.78% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $35,201 pivot to bring the first major resistance level at $36,025 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $35,950.0.

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 $37,000 levels before any pullback. The second major resistance level sits at $36,775.

Failure to move back through the $35,201 pivot would bring the first major support level at $34,451 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$34,000 levels. The second major support level sits at $33,627.