The Crypto Daily – Movers and Shakers – November 17th, 2021

Bitcoin, BTC to USD, slid by 5.49% on Tuesday. Following a 2.92% fall on Monday, Bitcoin ended the day at $60,068.0.

A bearish day saw Bitcoin slide from an early morning intraday high $63,562.0 to a late morning intraday low $58,625.7

Bitcoin fell through the first major support level at $62,493 and the second major support level at $61,426.

Coming within range of the third major support level at $58,433, Bitcoin briefly revisited $61,300 levels before easing back.

The second major support level pegged Bitcoin back in the 2^nd half of the day.

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

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Tuesday.

Litecoin tumbled by 12.40% to lead the way down.

Binance Coin (-7.05%), Bitcoin Cash SV (-5.89%), Cardano’s ADA (-7.04%), Chainlink (-8.89%), Ethereum (-7.77%), and Ripple’s XRP (-7.10%) also struggled.

Crypto.com Coin (-3.41%) and Polkadot (-3.38%) saw relatively modest losses on the day, however.

Early in the week, the crypto total market rose to a Monday high $2,902bn before falling to a Tuesday low $2,501bn. At the time of writing, the total market cap stood at $2,597.

Bitcoin’s dominance fell to a Monday low 43.26% before rising to a Tuesday high 44.01%. At the time of writing, Bitcoin’s dominance stood at 43.73%.

This Morning

At the time of writing, Bitcoin was up by 0.41% to $60,313.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,777.0 before rising to a high $60,409.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend at the start of the day, sliding by 4.19%.

It’s been a bullish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 2.00% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $60,752 pivot to bring the first major resistance level at $62,878 into play.

Support from the broader market would be needed for Bitcoin to move back through to $62,000 levels

Barring a broad-based crypto rally, the first major resistance level and Tuesday’s high $63,562 would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $65,000 levels before easing back. The second major resistance level sits at $65,688.

Failure to move through the $60,752 pivot would bring the first major support level at $57,942 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level sits at $55,816.