The Crypto Daily – Movers and Shakers – September 10th, 2021It was a mixed day for Bitcoin and the broader market. A Bitcoin move back through to $48,000 levels would deliver support, however.
Bitcoin, BTC to USD, rose by 0.73% on Thursday. Partially reversing a 1.67% loss from Wednesday, Bitcoin ended the day at $46,389.0.
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A mixed start to the day saw Bitcoin fall to an early morning intraday low $45,546.0 before making a move.
Steering clear of the first major support level at $44,578, Bitcoin rose to a late afternoon intraday high $47,398.6.
Falling short of the first major resistance level at $47,457, however, Bitcoin fell back to sub-$46,100 levels before finding support.
The near-term bullish trend remained intact, in spite of the latest return to $43,000 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 Thursday
It was a bullish day for the rest of the majors, however.
In the current week, the crypto total market rose to a Tuesday high $2,438bn before tumbling to a Tuesday low $1,835bn. At the time of writing, the total market cap stood at $2,145bn.
Bitcoin’s dominance rose to a Tuesday high 43.64% before falling to a Thursday low 40.15%. At the time of writing, Bitcoin’s dominance stood at 40.77%.
At the time of writing, Bitcoin was up by 0.10% to $46,436.0. A mixed start to the day saw Bitcoin rise to an early morning high $46,486.3 before falling to a low $46,291.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV and Crypto.com Coin bucked the early trend, with losses of 0.45% and 0.36% respectively.
It was a bullish start for the rest of the majors, however.
At the time of writing, Polkadot was up by 6.46% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the $46,445 pivot to bring the first major resistance level at $47,343 into play.
Support from the broader market would be needed for Bitcoin to break back through to $47,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $47,398.6 would likely cap the upside.
In the event of a broad-based crypto rebound, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,297.
Failure to move back through the $46,445 pivot would bring the first major support level at $45,491 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$44,000 levels. The second major support level at $44,592 should limit the downside.