The Crypto Daily – Movers and Shakers – September 11th, 2021Following a bearish Friday, it’s been a mixed start to the day. A Bitcoin move back through to $47,000 levels would support a broad-based crypto rally, however.
Bitcoin, BTC to USD, fell by 3.33% on Friday. Reversing a 0.73% gain from Thursday, Bitcoin ended the day at $44,852.0.
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A mixed start to the day saw Bitcoin rise to an early morning intraday high $47,044.0 before hitting reverse.
Falling short of the first major resistance level at $47,343, Bitcoin slid to a late intraday low $44,155.0.
Bitcoin fell through the first major support level at $45,491 and the second major support level at $44,592
Finding late support, however, Bitcoin broke back through the second major support level to end the day at $44,800 levels.
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 Friday
Polkadot rose by 1.17% to buck the trend on the day.
It was a bearish day for the rest of the majors, however.
Ethereum slid by 6.26% to lead the way down.
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 $2,070bn.
Bitcoin’s dominance rose to a Tuesday high 43.64% before falling to a Friday low 39.92%. At the time of writing, Bitcoin’s dominance stood at 41.04%.
At the time of writing, Bitcoin was up by 0.62% to $45,132.0. A mixed start to the day saw Bitcoin fall to an early morning low $44,750.0 before rising to a high $45,169.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin and Polkadot bucked the early trend, with losses of 1.41% and 0.88% respectively.
It was a bullish start for the rest of the majors, however.
At the time of writing, Ethereum was up by 1.00% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move through the $45,350 pivot to bring the first major resistance level at $46,546 into play.
Support from the broader market would be needed for Bitcoin to break back through to $46,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $47,044.0 would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,239.
Failure to move through the $45,350 pivot would bring the first major support level at $43,657 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the 38.2% FIB of $41,592. The second major support level at $42,461 should limit the downside.