The Crypto Daily – Movers and Shakers – November 10th, 2021

Bitcoin, BTC to USD, slipped by 0.87% on Tuesday. Following a 6.71% rally on Monday, Bitcoin ended the day at $66,938.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high and a new ATH $68,444.0 before hitting reverse.

Falling short of the first major resistance level at $69,035, Bitcoin fell to a late afternoon intraday low $66,326.0.

Steering well clear of the first major support level at $64,647, however, Bitcoin revisited $67,400 levels before easing back.

The near-term bullish trend remained intact, supported Tuesday’s ATH $68,444. 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.

Litecoin surged by 14.42% to lead the way, with Bitcoin Cash SV (+7.86%) and Cardano’s ADA (+6.72%) finding strong support.

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

Crypto.com Coin slid by 11.66% to lead the way down, with Polkadot down by 4.00%.

Binance Coin (-2.89%), Chainlink (-2.00%), Ethereum (-1.67%), and Ripple’s XRP (-2.25%) also struggled, however.

Early in the week, the crypto total market fell a Monday low $2,719bn before rising to a Tuesday high $2,982bn. At the time of writing, the total market cap stood at $2,892bn.

Bitcoin’s dominance fell to a Monday low 43.09% before rising to a Tuesday high 44.35%. At the time of writing, Bitcoin’s dominance stood at 43.87%.

This Morning

At the time of writing, Bitcoin was up by 0.43% to $67,227.0. A mixed start to the day saw Bitcoin fall to an early morning low $66,834.0 before rising to a high $67,229.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.19%), Crypto.com Coin (-2.10%), and Polkadot (-0.20%) saw early red.

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

At the time of writing, Litecoin was up by 0.96% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $67,236 pivot to bring the first major resistance level at $68,146 into play.

Support from the broader market would be needed for Bitcoin to break back through to $68,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s ATH $68,444.0 would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $70,000. The second major resistance level sits at $69,354.

Failure to move through the $67,236 pivot would bring the first major support level at $66,028 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$65,000 levels, however. The second major support level at $65,118 should limit the downside.