The Crypto Daily – Movers and Shakers – September 13th, 2020It’s a mixed start to the day for the majors. A Bitcoin move through to $10,500 levels would support a broad-based crypto rally.
Bitcoin, BTC to USD, rose by 0.51% on Saturday. Following on from a 0.49% gain on Friday, Bitcoin ended the day at $10,458.0.
It was a mixed start to the day. Bitcoin rose to an early morning high $10,415.0 before sliding to an early afternoon intraday low $10,287.0.
Steering clear of the first major support level at $10,255, Bitcoin rallied to a late afternoon intraday high $10,492.0.
Coming up against the first major resistance level at $10,496 and resistance at $10,500, Bitcoin eased back to limit the upside on the day.
The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was another mixed day on Saturday.
Bitcoin Cash SV (-0.14%) and Tron’s TRX (-2.39%) saw red to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Binance Coin surged by 12.08% to lead the way.
Bitcoin Cash ABC (+2.53%), Ethereum (+3.71%), Litecoin (+3.80%), Monero’s XMR (+2.83%), and Ripple’s XRP (+1.90%) also found strong support.
Cardano’s ADA (+0.73%), EOS (+0.60%), Stellar’s Lumen (+0.26%), and Tezos (+0.94%) trailed the pack, however.
In the current week, the crypto total market fell to a Tuesday low $297.87bn before rising to a Saturday high $327.48bn. At the time of writing, the total market cap stood at $324.97bn.
Bitcoin’s dominance rose to a Monday high 61.28% before falling to a Saturday low 59.17%. At the time of writing, Bitcoin’s dominance stood at 59.28%.
At the time of writing, Bitcoin was down by 0.22% to $10,435.3. A bearish start to the day saw Bitcoin fall from an early morning high $10,461.1 to an early morning low $10,435.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash ABC (+0.39%), Bitcoin Cash SV (+0.94%), and Ripple’s XPR (+0.20%) found support early on.
It was a bearish start for the rest of the majors, however.
At the time of writing, Tron’s TRX was down by 1.28% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the $10,412 pivot level to support a run at the first major resistance level at $10,538.
Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $10,492.0.
Barring an extended crypto rally, the first major resistance level and resistance at $10,500 would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $10,617.
Failure to avoid a fall through the $10,412 pivot would bring the first major support level at $10,333 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,200. The second major support level at $10,207 should limit any downside.