The Crypto Daily – Movers and Shakers – November 9th, 2021

Bob Mason
Updated: Nov 9, 2021, 00:49 UTC

Following Monday's bullish start to the week, the Bitcoin bulls will be eyeing a first visit to $70,000...


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Bitcoin, BTC to USD, rallied by 6.71% on Monday. Following a 2.88% gain on Sunday, Bitcoin ended the day at $66,526.0.

Bullish from start to the day, Bitcoin rallied an early morning intraday low $63,277.0 to a late intraday high and a new ATH $67,665.0.

Bitcoin broke through broke through day’s major resistance levels to wrap up the day at $67,500 levels.

The near-term bullish trend remained intact, supported Monday’s ATH $67,665. 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 Monday.

Polkadot bucked the trend once more, falling by 4.23%.

It was a bullish day for the rest of the majors, however. Coin and Litecoin surged by 17.22% and by 13.29% to lead the way.

Bitcoin Cash SV (+5.77%), Cardano’s ADA (+5.17%), Chainlink (+6.67%), Ethereum (+4.22%), and Ripple’s XRP (+5.06%) also found strong support.

Binance Coin (+0.61%) trailed the front runners, however.

Early in the week, the crypto total market rose from a Monday low $2,743bn to a Monday high $2,960bn. At the time of writing, the total market cap stood at $2,886bn.

Bitcoin’s dominance rose to a Monday high 43.98% before falling to a Monday low 43.09%. At the time of writing, Bitcoin’s dominance stood at 43.97%.

This Morning

At the time of writing, Bitcoin was down by 0.42% to $67,242.0. A bearish start to the day saw Bitcoin fall from an early morning high $67,526.0 to a low $67,120.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV bucked the early trend, rising by 0.13%.

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

At the time of writing, Coin was down by 3.43% to lead the way down.

BTCUSD 091121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $66,156 pivot to bring the first major resistance level at $69,035 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s ATH $67,665.0.

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 the second major resistance level at $70,544.

A fall through the $66,156 pivot would bring the first major support level at $64,647 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$64,000 levels, however. The second major support level sits at $61,768.

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.

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