The Crypto Daily Movers and Shakers August 16, 2021

[ad_1]

Bitcoin, BTC to USD, slipped 0.13% on Sunday. After falling 3.59% on Saturday, Bitcoin ended the week up 7.37% to $ 47,084.0.

A mixed start to the day saw Bitcoin hit an early morning intraday high of $ 47,369.0 before reversing.

Well below the first major resistance level at $ 48,172, Bitcoin slipped to an intraday low of $ 45,471.0 early in the afternoon.

Bitcoin broke through the first major support level at $ 45,966 before briefly revisiting the $ 47,200 levels late in the day.

The short-term uptrend remained intact, supported by the latest return to levels of $ 48,000. For bears, Bitcoin would need a sustained decline through 62% FIB from $ 27,237 to form a short-term downtrend.

The rest of the pack

In the rest of the majors, it was a mixed day on Sunday.

Cardanos ADA fell 0.95% to join Bitcoin in the red.

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

Chainlink rose 2.69% to lead the way.

Binance Coin (+1.33%), Bitcoin Cash SV (+1.70%), Ethereum (+1.36%), Litecoin (+1.01%) and Polkadot (+1.47%) were not far away.

However, Crypto.com Coin (+ 0.06%) and Ripples XRP (+ 0.41%) trailed in the lead.

While the weekend was mixed, it was a bullish week for the majors.

Ripples XRP jumped 64.95% to lead the way, with Cardanos ADA ending the week up 52.04%.

Binance Coin (+ 21.15%), Chainlink (+ 21.08%) and Litecoin (+ 23.27%) also found strong support.

However, Bitcoin Cash SV (+ 16.49%), Crypto.Com Coin (+ 9.20%), Ethereum (+ 9.85%) and Polkadot (+ 9.85%) followed the first.

For the week, the total crypto market fell to a Monday low of $ 1,696 billion before hitting a Saturday high of $ 2,022 billion. At the time of writing, the total market cap was $ 1.999.5 billion.

Bitcoin dominance peaked at 47.44% on Monday before falling to a low of 44.12% on Sunday. At the time of writing this article, Bitcoin dominance stands at 44.32%.

This morning

As of this writing, Bitcoin was up 0.19% to $ 47,111.0. A bullish start to the day saw Bitcoin drop from an early morning low of $ 47,023.0 to a high of $ 47,174.0.

The story continues

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a bullish start to the day.

At the time of writing this article, Crypto.com Coin was up 1.13% to lead the way.

For Bitcoin Day Ahead

Bitcoin should avoid the pivot of $ 46,621 to bring into play the first major resistance level at $ 47,770.

Broad market support would be needed for Bitcoin to break out of the $ 47,500 levels.

Barring a large scale crypto rally, the first major resistance level and resistance at $ 48,000 would likely cap any upside potential.

In the event of a prolonged crypto rally, Bitcoin could test resistance at levels of $ 49,000 before any pullback. The second major resistance level is located at $ 48,519.

A fall through the pivot of $ 46,621 would bring into play the first major support level at $ 45,872.

Unless there is an extended sale on that day, Bitcoin is expected to avoid levels below $ 45,000. The second major support level is at $ 44,723.

This article originally appeared on FX Empire

More from FXEMPIRE:

[ad_2]