The Crypto Daily – Movers and Shakers – November 13th, 2021

By:

Bob Mason

Updated: Nov 13, 2021, 00:53 UTC

After Friday's losses, a Bitcoin move back through to $65,500 levels would support the broader market.

The Rest of the Pack

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

Crypto.com Coin bucked the trend, rising by 1.97%.

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

Litecoin slid by 4.22% to lead the way down.

Bitcoin Cash SV (-1.88%), Cardano’s ADA (-1.65%), Chainlink (-1.42%), Ethereum (-1.14%), Polkadot (-2.27%), and Ripple’s XRP (-2.01%) also struggled.

Binance Coin fell by a more modest 0.28% on the day.

In the current week, the crypto total market rose to a Wednesday high $3,007bn before falling to a Wednesday low $2,657bn. At the time of writing, the total market cap stood at $2,812bn.

Bitcoin’s dominance rose to a Wednesday high 44.62% before falling to a Friday low 42.78%. At the time of writing, Bitcoin’s dominance stood at 43.20%.

This Morning

At the time of writing, Bitcoin was up by 0.38% to $64,379.0. A bullish start to the day saw Bitcoin rise from an early morning low $64,134.0 to a high $64,397.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 4.52% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $63,937 pivot to bring the first major resistance level at $65,618 into play.

Support from the broader market would be needed for Bitcoin to break out from $65,500 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $66,000 would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at Wednesday’s ATH $68,958. The second major resistance level sits at $67,103.

A fall through the $63,937 pivot would bring the first major support level at $62,452 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 at $60,771 should limit the downside.

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.