The Crypto Daily – Movers and Shakers – September 5th, 2020

Bitcoin, BTC to USD, rose by 3.13% on Friday. Partially reversing a 10.80% tumble from Thursday, Bitcoin ended the day at $10,484.7.

It was a mixed start to the day. Bitcoin fell to an early morning low $10,095 before making a move.

Steering clear of the first major support level at $9,620, Bitcoin rallied to a late intraday high $10,644.0.

Falling well short of the first major resistance level at $11,090, Bitcoin eased back to sub-$10,500 levels.

The near-term bullish trend remained intact, in spite of the latest pullback. 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 a mixed day for the majors on Friday.

Tron’s TRX bucked the trend once more, sliding by 11.42% to partially reverse Thursday’s 15.94% breakout.

It was a bullish day for the rest of the majors, however.

EOS led the way, rallying by 14.50%.

Bitcoin Cash ABC (+6.93%), Cardano’s ADA (+7.45%), Monero’s XMR (+5.53%), and Tezos (+7.20%) also found strong support.

Binance Coin (+3.04%), Bitcoin Cash SV (+3.58%), Ethereum (+1.50%), Litecoin (+1.22% Ripple’s XRP (+3.82%), and Stellar’s Lumen (+1.83%) trailed the front runners.

In the current week, the crypto total market rose to a Tuesday high $379.05bn before sliding to a Thursday low $303.72bn. At the time of writing, the total market cap stood at $322.50bn.

Bitcoin’s dominance fell to a Wednesday low 58.79% before rising to a Thursday high 60.77%. At the time of writing, Bitcoin’s dominance stood at 59.75%.

This Morning

At the time of writing, Bitcoin was down by 0.40% to $10,443.0. A mixed start to the day saw Bitcoin rise to an early morning high $10,593.0 before falling to a low $10,442.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (-0.17%), Ethereum (-0.35%), and Litecoin (-1.34%) joined Bitcoin in the red.

It was a bullish start for the rest of the majors, however.

At the time of writing, EOS was up by 1.55% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,365 pivot level to support a run at the first major resistance level at $10,764.

Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $10,644.0.

Barring an extended crypto rally, the first major resistance level and Friday’s high would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $11,000 before any pullback. The second major resistance level sits at $11,043.

Failure to avoid a fall through the $10,365 pivot would bring the first major support level at $10,086 into play.

Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$10,000 levels on the day. The second major support level sits at $9,687.