The Crypto Daily – Movers and Shakers – June 9th, 2021

Bitcoin, BTC to USD, slipped by 0.04% on Tuesday. Following a 6.17% slide on Monday, Bitcoin ended the day at $33,402.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $34,052.0 before hitting reverse.

Falling short of the first major resistance level at $35,721 Bitcoin slid to a mid-afternoon intraday low $31,075.0.

Bitcoin fell through the first major support level at $32,487 and the second major support level at $31,401.

Finding late support, however, Bitcoin broke back through the major support levels to return to $33,000 levels.

The near-term bullish trend remained intact in spite of the latest fall back through to $31,000 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.

Cardano’s ADA (+1.13%), Polkadot (+0.41%), and Ripple’s XRP (+1.45%) saw green to buck the trend on the day.

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

Crypto.com Coin tumbled by 14.04% to lead the day down.

Bitcoin Cash SV (-4.34%) and Ethereum (-3.22%) also struggled.

Binance Coin (-1.46%), Chainlink (-1.96%), and Litecoin (-0.75%) saw relatively modest losses, however.

Early in the week, the crypto total market rose to a Monday high $1,546bn before falling to a Monday low $1,374bn. At the time of writing, the total market cap stood at $1,475bn.

Bitcoin’s dominance rose to a Monday high 42.28% before falling to a Monday low 41.53%. At the time of writing, Bitcoin’s dominance stood at 42.07%.

This Morning

At the time of writing, Bitcoin was down by 0.71% to $33,166.3. A mixed start to the day saw Bitcoin rise to an early morning high $33,570.0 before falling to a low $32,469.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 3.21% to buck the trend early on.

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

At the time of writing, Chainlink was down by 3.72% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $32,843 pivot to bring the first major resistance level at $34,611 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 rally, the first major resistance level and resistance at $35,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $35,820 and resistance at $36,000.

Failure to avoid a fall back through the $32,843 pivot would bring the first major support level at $31,634 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000. The second major support level sits at $29,866.