The Crypto Daily – The Movers and Shakers – 04/09/19

After another solid day for Bitcoin and the broader market, it’s a bearish start to the day. A Bitcoin move through to $10,570 would signal another rally.
Bob Mason
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin rose by 2.93% on Tuesday. Following on from a 6.23% rally on Monday, Bitcoin ended the day at $10,641.

Another relatively range-bound morning saw Bitcoin fall from an early morning high $10,500 to a low $10,291 before making a move.

Steering well clear of the major support and resistance levels, Bitcoin rallied to an early afternoon intraday high $10,766.

Bitcoin broke through the first major resistance level at $10,656.47 to visit $10,700 levels for the 1st time since 21st August.

A late dip to sub-$10,500 levels was short-lived, with Bitcoin wrapping up the day at $10,600 levels. The pullback saw Bitcoin fall back through the first major resistance level at $10,656.47.

For Bitcoin, the extended bullish trend remained intact. An early September rebound saw Bitcoin break back through the 38.2% FIB, while Bitcoin also continued to steer well clear of sub-$9,000 levels and the 62% FIB of $7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed bag on Tuesday.

Litecoin and Monero’s XMR were amongst the front runners, rising by 5.27% and 2.35% respectively.

Bitcoin Cash ABC (+1.97%), EOS (+0.99%), Ripple’s XRP (+0.69%) and Ethereum (+0.08%) also saw green on the day.

Bucking the trend, however, were Binance Coin (-2.23%), Stellar’s Lumen (-0.85%), and Bitcoin Cash SV (-0.52%).

The relatively positive day led to a rise in the total crypto market cap from a day low $263.28bn to a high $272.75bn. At the time of writing, the total crypto market cap stood at $269.57bn.

Bitcoin’s dominance continued to hold onto 70% levels, with Bitcoin up by 10.6% for the current month.

Outgunning Bitcoin at the start of the month was Monero’s XMR, which was up by 11.69%. While Litecoin (+9.96%), Bitcoin Cash ABC (+7.56%), and Binance Coin (+6.27%) also made solid gains, it was less impressive elsewhere.

This Morning

At the time of writing, Bitcoin was down by 1.18% to $10,515. A bearish start to the day saw Bitcoin fall from an early morning high $10,649.2 to a low $10,476.

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

Elsewhere, Bitcoin Cash SV led the way, rising by 0.86%. Bitcoin Cash ABC (+0.38%), Binance Coin (+0.37%) and Stellar’s Lumen (+0.07%) also saw green early on.

Litecoin led the way down, however, down by 1.07% at the time of writing. Ethereum, Ripple’s XRP, and EOS were also in the red.

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $10,570 levels to support a run at Tuesday’s high $10,766.

Support from the broader market would be needed, however, for Bitcoin to break out from this morning’s high $10,649.2.

Barring a broad-based crypto rally, Bitcoin would likely come up short of the first major resistance level at $10,841.

Failure to move back through to $10,570 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low $10,476 to $10,420 levels would bring the first major support level at $10,366 into play.

Barring a crypto meltdown, Bitcoin should steer clear of the second major support level at $10,091 and sub-$10,000 levels.

Get Into Cryptocurrency Trading Today

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.