The Crypto Daily – Movers and Shakers – November 11th, 2021

Bitcoin, BTC to USD, fell by 3.09% on Wednesday. Following a 0.87% decline on Tuesday, Bitcoin ended the day at $64,871.0.

After a relatively range-bound morning, Bitcoin rallied to an early afternoon new ATH $68,958.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $68,146 before sliding to a late intraday low $62,866.0.

The extended sell-off saw Bitcoin fall through the day’s major support levels.

Finding late support, however, Bitcoin broke back through the third major resistance level at $63,000 to visit $65,000 levels before easing back.

The second major support level at $65,118 pegged Bitcoin back late in the day.

The near-term bullish trend remained intact, supported Wednesday’s ATH $68,958.

The Rest of the Pack

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

Chainlink and Crypto.com Coin bucked the trend on the day, rising by 1.55% and by 0.18% respectively.

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

Cardano’s ADA and Bitcoin Cash SV slid by 7.47% and by 6.75% respectively to lead the way down

Binance Coin (-3.16%), Polkadot (-5.00%), and Ripple’s XRP (-5.07%) also struggled.

Ethereum (-2.10%) and Litecoin (-0.72%) saw relatively modest losses, however.

In the current week, the crypto total market rose to a Wednesday high $3,006bn before falling to a Wednesday low $2,657bn. At the time of writing, the total market cap stood at $2,781bn.

Bitcoin’s dominance fell to a Monday low 43.09% before rising to a Wednesday high 44.62%. At the time of writing, Bitcoin’s dominance stood at 43.90%.

This Morning

At the time of writing, Bitcoin was down by 0.31% to $64,669.0. A bearish start to the day saw Bitcoin fall from an early morning high $64,871.0 to a low $64,471.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 6.63% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $65,565 pivot to bring the first major resistance level at $68,264 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 Wednesday’s ATH $68,958.0 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 $71,657.

Failure to move through the $65,565 pivot would bring the first major support level at $62,172 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels, however. The second major support level sits at $59,473.