The Crypto Daily – Movers and Shakers – September 26th, 2021

admin

Bitcoin , BTC to USD, fell by 0.34% on Saturday.Following a 4.54% slide on Friday, Bitcoin ended the day at $42,714.0. A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,986.9 before hitting reverse. Falling short of the first major resistance level at $45,095, Bitcoin slid to a late…

Bitcoin , BTC to USD, fell by 0.34% on Saturday.Following a 4.54% slide on Friday, Bitcoin ended the day at $42,714.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,986.9 before hitting reverse.

Falling short of the first major resistance level at $45,095, Bitcoin slid to a late morning intraday low $41,728.0.

Steering clear of the 38.2% FIB of $41,592 and the first major support level at $40,686, Bitcoin revisited $42,900 levels before easing back into the red.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 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.

Chainlink led the way, rallying by 5.43%, with Bitcoin Cash SV (0.64%), Cardano’s ADA (+1.00%), and Crypto.com Coin (+2.01%) also finding support on the day.

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

Polkadot fell by 2.84% to lead the way down.

Binance Coin (-1.52%), Ethereum (-0.22%), Litecoin (-0.83%), and Ripple’s XRP (-0.53%) also joined Bitcoin in the red.

In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn.At the time of writing, the total market cap stood at $1,910bn.

Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Friday low 40.99%.At the time of writing, Bitcoin’s dominance stood at 41.91%.

This Morning At the time of writing, Bitcoin was down by 0.36% to $42,559.0.A mixed start to the day saw Bitcoin rise to an early morning high $42,767.0 before falling to a low $42,451.0.

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, Bitcoin Cash SV was down by 2.47% to lead the way down.

For the Bitcoin Day Ahead Bitcoin would need to avoid a fall back through the $42,476 pivot to bring the first major resistance level at $43,225 into play.

Story continues Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $42,986.8.

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

In the event of a broad-based crypto rally, Bitcoin could test resistance at $45,000 levels before any pullback.The second major resistance level sits at $43,735.

A fall back through the $42,476 pivot would bring the first major support level at $41,966 and the 38.2% FIB of $41,592 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000.The second major support level at $41,218 should limit the downside.

This article was originally posted on FX Empire

More From FXEMPIRE: Silver Price Prediction – Prices Form Doji Day which is a Sign of Indecision

The Week Ahead – Central Bank Chatter, Evergrande, and a Busy Economic Calendar in Focus

The Weekly Wrap – Economic Data, Monetary Policy, and Evergrande Delivered a Choppy Week

U.S Mortgage Rates See Modest Increase with Labor Market Conditions now Key

USD/CAD Exchange Rate Prediction – The Dollar Fails to Rally Despite Rising Treasury Yields

Crude Oil Weekly Price Forecast – Crude Oil Continue to Show Upward Momentum

.

Leave a Reply

Next Post

Amid China's crackdown on crypto, here's how to trade in Bitcoin and Ethereum - The Economic Times

Agencies Bitcoin, the largest cryptocurrency, started its September run on a very good note.The first week was fairly positive as the asset soared high, touching almost $52,900 on September 7, following which it corrected by almost 20%.History tends to repeat itself and just like last year, September brought the historical negative returns to Bitcoin. Evergrande…
Amid China’s crackdown on crypto, here’s how to trade in Bitcoin and Ethereum – The Economic Times

Subscribe US Now