The Crypto Daily – Movers and Shakers – November 3rd, 2021

Bitcoin, BTC to USD, rallied by 3.82% on Tuesday. Reversing a 0.61% loss from Monday, Bitcoin ended the day at $63,249.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $60,661.0 before making a move.

Steering clear of the first major support level at $59,484, Bitcoin rallied to a mid-afternoon intraday high $64,291.0.

Bitcoin broke through the first major resistance level at $62,453 and the second major resistance level at $63,957.

A late pullback, however, saw Bitcoin fall back though the second major resistance level to end the day at $63,200 levels.

The near-term bullish trend remained intact, supported the latest return to $66,000 levels. 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.

Polkadot bucked the trend, following Monday’s breakout, falling by 0.41%.

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

Crypto.com Coin jumped by 13.18% to lead the way, with Ethereum (+6.29%) and Ripple’s XRP (+3.99%) also finding strong support.

Binance Coin  (+0.58%), Bitcoin Cash SV (+1.71%), Cardano’s ADA (+1.18%), Chainlink (+1.73%), and Litecoin (+1.68%) trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $2,527bn before rising to a Tuesday high $2,789bn. At the time of writing, the total market cap stood at $2,718bn.

Bitcoin’s dominance rose to a Monday high 44.39% before falling to a Monday low 43.44%. At the time of writing, Bitcoin’s dominance stood at 43.70%.

This Morning

At the time of writing, Bitcoin was down by 0.51% to $62,926.5. A mixed start to the day saw Bitcoin rise to an early morning high $63,391.0 before falling to a low $62,926.5.

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 early trend, rallying by 3.79%.

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

At the time of writing, Litecoin was down by 1.07% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $62,734 pivot to bring the first major resistance level at $64,806 into play.

Support from the broader market would be needed for Bitcoin to break out from Tuesday’s high $64,291.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $65,000 would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $68,000 levels before any pullback. The second major resistance level sits at $66,364.

A fall through the $62,734 pivot would bring the first major support level at $61,176 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels, however. The second major support level sits at $59,104.