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

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Updated: Mar 14, 2021, 00:30 UTC

It's a relatively bullish start to the day for the majors. A Bitcoin breakout from yesterday's new swing hi $61,693.0 would support the broader market.

The Rest of the Pack

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

Polkadot fell by 3.44% to buck the trend early on.

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

Bitcoin Cash SV surged by 16.62% to lead the way, with, Ethereum rallying by 8.76%.

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

Binance Coin (+4.87%), Cardano’s ADA (+6.44%) and Chainlink (+4.85%), and Ripple’s XRP (+4.52%) also found strong support.

Crypto.com Coin (+0.45%) and Litecoin (+2.38%) trailed the front runners on the day.

In the current week, the crypto total market fell to a Monday low $1,508bn before rising to a Saturday high $1,860bn. At the time of writing, the total market cap stood at $1,818bn.

Bitcoin’s dominance fell to a Tuesday low 60.13% before rising to a Friday high 63.23%. At the time of writing, Bitcoin’s dominance stood at 62.85%.

This Morning

At the time of writing, Bitcoin was up by 0.06% to $61,237.0. A mixed start to the day saw Bitcoin fall to an early morning low $60,963.0 before rising to a high $61,339.9.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA was down by 0.18% to buck the trend early on.

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

At the time of writing, Crypto.com Coin was up by 2.68% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $59,675 to bring the first major resistance level at $63,221 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s new swing hi $61,693.0.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $65,000. The second major resistance level sits at $65,238.

Failure to avoid a fall through the $59,675 pivot would bring the first major support level at $57,658 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear sub-$57,000 levels. The second major support level sits at $54,112.

About the Author

Bob Masonauthor

With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.