The Crypto Daily – Movers and Shakers – September 18th, 2021
Bitcoin, BTC to USD, fell by 1.02% on Friday. Following a 0.74% decline on Thursday, Bitcoin ended the day at $47,296.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $48,183.0 before hitting reverse.
Falling short of the first major resistance level at $48,521, Bitcoin slid to a late intraday low $46,771.0.
Bitcoin fell through the first major support level at $47,052 before a partially recovery to $47,200 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.
It was a bearish day for the rest of the majors, however.
Chainlink and Polkadot led the way down, with losses of 7.19% and 6.13% respectively.
In the current the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,126bn.
Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 41.89%.
At the time of writing, Bitcoin was down by 0.05% to $47,271.0. A mixed start to the day saw Bitcoin rise to an early morning high $47,366.0 before falling to a low $47,241.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Crypto.com Coin was down by 1.40% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to move through the $47,417 pivot to bring the first major resistance level at $48,062 into play.
Support from the broader market would be needed for Bitcoin to break back through to $48,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Friday’s high $48,183 would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $49,000 levels before any pullback. The second major resistance level sits at $48,829.
Failure to move through the $47,417 pivot would bring the first major support level at $46,650 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level at $46,005 should limit the downside.