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The Crypto Daily – Movers and Shakers – July 4th, 2021

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·3 min read
In this article:
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Bitcoin, BTC to USD, rose by 2.55% on Saturday. Following a 0.88% gain on Friday, Bitcoin ended the day at $34,682.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,350.0 before making a move.

Steering clear of the first major support level at $33,016, Bitcoin rallied to a late afternoon intraday high $34,948.0.

Bitcoin broke through the first major resistance level at $34,299 and the second major resistance level at $34,783.

Coming up against resistance at $35,000, however, Bitcoin fell back through the second major resistance level to sub-$34,500 levels before steadying.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 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 Saturday.

Polkadot fell by 1.02% to buck the trend on the day.

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

Crypto.com Coin rallied by 6.21% to lead the way, with Binance Coin (+3.82%) and Ethereum (+3.29%) finding strong support.

Bitcoin Cash SV (+2.00%), Litecoin (+2.40%), and Ripple’s XRP (+2.53%) also made solid gains.

Cardano’s ADA (+0.70%) and Chainlink (+1.42%) trailed the front runners, however.

In the current week, the crypto total market rose to a Tuesday high $1,485bn before falling to a Friday low $1,319bn. At the time of writing, the total market cap stood at $1,412bn.

Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Thursday low 45.54%. At the time of writing, Bitcoin’s dominance stood at 45.90%.

This Morning

At the time of writing, Bitcoin was down by 0.28% to $34,585.3. A mixed start to the day saw Bitcoin rise to an early morning high $34,714.6 before falling to a low $34,555.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin and Polkadot found early support, rising by 0.17% and by 0.01% respectively.

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

At the time of writing, Litecoin was down by 0.31% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $34,327 pivot to bring the first major resistance level at $35,303 into play.

Support from the broader market would be needed for Bitcoin to break back through to $35,000 levels.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $37,000 levels before any pullback. The second major resistance level sits at $35,925.

A fall through the $34,327 pivot would bring the first major support level at $33,705 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level at $32,729 should limit the downside.

This article was originally posted on FX Empire

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