The Crypto Daily – Movers and Shakers – June 27th, 2021
Bitcoin, BTC to USD, rose by 2.44% on Saturday. Partially reversing an 8.86% slide from Friday, Bitcoin ended the day at $32,355.7.
A mixed start to the day saw Bitcoin rise to a mid-morning intraday high $32,661.0 before hitting reverse.
Falling short of the first major resistance level at $34,299, Bitcoin slid to a late morning intraday low $30,206.0.
Steering clear of the first major support level at $30,068, Bitcoin move back through to $32,300 levels and into the green.
A final hour rally delivered most of the upside on the day.
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 for the majors on Saturday.
It was a bearish day for the rest of the majors, however.
In the current week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,127bn. At the time of writing, the total market cap stood at $1,284bn.
Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.26%. At the time of writing, Bitcoin’s dominance stood at 47.21%.
At the time of writing, Bitcoin was up by 0.33% to $32,462.2. A mixed start to the day saw Bitcoin fall to an early morning low $32,066.0 before rising to a high $32,485.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day.
At the time of writing, Bitcoin Cash SV was up by 5.01% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $31,741 pivot to bring the first major resistance level at $33,276 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $32,661.0.
Barring a broad-based crypto rebound, the first major resistance level and resistance at $33,500 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $35,000. The second major resistance level sits at $34,196.
A fall through the $31,741 pivot would bring the first major support level at $30,821 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $29,286.