The Crypto Daily – Movers and Shakers – September 15th, 2020It’s a mixed start to the day for the majors. A Bitcoin breakthrough to $10,800 would support the pack.
Bitcoin, BTC to USD, rallied by 3.47% on Monday. Reversing a 1.22% decline from Sunday, Bitcoin ended the day at $10,689.9.
It was a bearish start to the day. Bitcoin fell to an early morning intraday low $10,259.0 before making a move.
Steering clear of the first major support level at $10,167, Bitcoin rallied to a late afternoon intraday high $10,773.0.
Bitcoin broke through the first major resistance level at $10,559 to come within range of the second major resistance level at $10,787.
Easing back late in the day, Bitcoin slipped back to sub-$10,700 levels 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 Monday.
Bitcoin Cash SV (-0.60%), Tezos (-0.49%), and Tron’s TRX (-0.58%) saw red to buck the trend on the day.
It was a bullish day for the rest of the pack.
Monero’s XMR led the way, rallying by 6.86%.
Bitcoin Cash ABC (+1.16%), Cardano’s ADA (+1.57%), Ethereum (+2.92%), Litecoin (+1.93%), and Ripple’s XRP (+1.48%) also found strong support.
EOS (+0.16%), Stellar’s Lumen (+0.26%), and Stellar’s Lumen (+0.26%) trailed the front runners.
In the current week, the crypto total market fell to a Monday low $314.21bn before rising to a Monday high $333.72bn. At the time of writing, the total market cap stood at $327.96bn.
Bitcoin’s dominance rose from a Monday low 59.64% to a high 60.32%. At the time of writing, Bitcoin’s dominance stood at 60.21%.
At the time of writing, Bitcoin was up by 0.01% to $10,691.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,716.2 before falling to a low $10,664.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-2.72%), EOS (-0.17%), Ethereum (-0.33%), Litecoin (-0.24%), and Tron’s TRX (-0.70%) saw red early on.
It was a relatively bullish start for the rest of the majors.
At the time of writing, Bitcoin Cash SV was up by 1.28% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the $10,574 pivot level to support a run at the first major resistance level at $10,889.
Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $10,773.0.
Barring an extended crypto rally, the first major resistance level and resistance at $11,000 would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,088 to eye $11,500 levels before any pullback.
Failure to avoid a fall through the $10,574 pivot would bring the first major support level at $10,375 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $10,060 and sub-$10,000.