The Crypto Daily – Movers and Shakers – November 19th, 2021

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Updated: Nov 19, 2021, 00:57 UTC

After another day in the deep red for Bitcoin and the broader market, Bitcoin would need to return to $60,000 to support the pack.

The Rest of the Pack

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

Crypto.com Coin bucked the trend on the day, rallying by 5.49%.

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

Litecoin tumbled by 11.06% to lead the way, with Bitcoin Cash SV and Chainlink sliding by 8.63% and by 8.97% respectively.

Binance Coin (-7.99%), Cardano’s ADA (-4.73%), Ethereum (-6.80%), Polkadot (-3.18%), and Ripple’s XRP (-5.11%) also saw heavy losses.

In the current week, the crypto total market rose to a Monday high $2,902bn before falling to a Thursday low $2,408bn. At the time of writing, the total market cap stood at $2,469bn.

Bitcoin’s dominance rose to a Wednesday high 44.55% before falling to a Thursday low 43.02%. At the time of writing, Bitcoin’s dominance stood at 43.73%.

This Morning

At the time of writing, Bitcoin was up by 0.47% to $57,231.0. A mixed start to the day saw Bitcoin fall to an early morning low $56,732.0 before rising to a high $57,394.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.78%), Cardano’s ADA (-0.02%), Crypto.com Coin (-0.56%), and Polkadot (-0.53%) were in the red early on.

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

At the time of writing, Ethereum was up by 0.76% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $58,154 pivot to bring the first major resistance level at $59,754 into play.

Support from the broader market would be needed for Bitcoin to breakout from $58,500 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $63,000 levels before easing back. The second major resistance level sits at $62,544.

Failure to move through the $58,154 pivot would bring the first major support level at $55,364 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $53,764 and the 23.6% FIB of $53,628.

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.