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The Crypto Daily – Movers and Shakers – March 28th, 2021

By:
Bob Mason
Updated: Mar 28, 2021, 00:34 UTC

It's a mixed start to the day for the majors. A Bitcoin move through to $57,000 levels should support the broader market, however.

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

In this article:

Bitcoin, BTC to USD, rose by 1.64% on Saturday. Consolidating Friday’s 7.08% rally, Bitcoin ended the day at $55.886.0.

A mixed start to the day saw Bitcoin fall to a mid-day intraday low $54,010.0 before making a move.

Steering clear of the first major support level at $52,529, Bitcoin rallied to a late intraday high $56,655.0.

Bitcoin broke through the first major resistance level at $56,229 before falling back to sub-$56,000 levels.

The near-term bullish trend remained intact in spite of the recent pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA and Polkadot fell by 3.08% and by 3.05% to lead the way down.

Chainlink (-2.03%), Crypto.com Coin (-0.59%), and Ripple’s XRP (-3.42%) also saw red on the day.

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

Binance Coin  rallied by 5.49% to lead the way.

Bitcoin Cash SV (+2.77%), Ethereum (+0.82%), and Litecoin (+0.23%) also joined Bitcoin in the green.

In the current week, the crypto total market rose to a Monday high $1,802bn before sliding to a Thursday low $1,517bn. At the time of writing, the total market cap stood at $1,707bn.

Bitcoin’s dominance rose to a Wednesday high 62.24% before falling to a Friday low 60.17%. At the time of writing, Bitcoin’s dominance stood at 61.08%.

This Morning

At the time of writing, Bitcoin was up by 0.02% to $55,895.0. A mixed start to the day saw Bitcoin fall to an early morning low $55,859.0 before rising to a high $56,029.0

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

Elsewhere, it was a mixed start to the day.

Binance Coin was up by 0.12% to join Bitcoin in the green.

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

At the time of writing, Ripple’s XRP was down by 0.67% to lead the way down.

BTCUSD 280321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $55,517 to bring the first major resistance level at $57,024 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $56,655.0.

Barring an extended crypto rally, the first major resistance level and resistance at $57,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $58,162.

Failure to avoid a fall through the $55,517 pivot would bring the first major support level at $54,379 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $52,872.

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.

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