The Crypto Daily – Movers and Shakers – September 9th, 2020

Bitcoin, BTC to USD, slid by 2.42% on Tuesday. Reversing a 1.18% gain from Monday, Bitcoin ended the day at $10,148.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $10,464.0 before hitting reverse.

Falling short of the first major resistance level at $10,579, Bitcoin slid to a late intraday low $9,882.4.

Bitcoin fell through the first major support level at $10,065 recovering to wrap up the day at $10,100 levels.

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 for the majors on Tuesday.

Binance Coin (+3.56%), Monero’s XMR (+1.64%), and Tron’s TRX (+8.15%) bucked the trend on the day.

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

Ethereum and EOS led the way down, with losses of 4.59% and 3.26% respectively.

Bitcoin Cash ABC (-2.23%), Bitcoin Cash SV (-2.53%), Cardano’s ADA (-2.65%), Litecoin (-2.82%), Ripple’s XRP (-2.42%), Stellar’s Lumen (-1.77%), and Tezos (-2.29%) also joined Bitcoin in the red.

In the current week, the crypto total market fell to a Monday low $298.39bn before rising to a Tuesday high $317.82bn. At the time of writing, the total market cap stood at $308.44bn.

Bitcoin’s dominance fell to a Monday low 60.36% before rising to a Monday high 61.19%. At the time of writing, Bitcoin’s dominance stood at 60.65%.

This Morning

At the time of writing, Bitcoin was down by 0.11% to $10,137.2. A mixed start to the day saw Bitcoin fall to an early morning low $10,103.0 before rising to a high $10,166.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+1.16%), Bitcoin Cash SV (+0.22%), Ethereum (+0.06%), Litecoin (+0.34%), and Tron’s TRX (+1.61%) found early support

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

At the time of writing, Stellar’s Lumen was down by 0.62% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $10,165 pivot level to support a run at the first major resistance level at $10,447.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,400 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $10,464.0 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $10,700 before any pullback. The second major resistance level sits at $10,746.

Failure to move through the $10,165 pivot would bring the first major support level at $9,866 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,583.