The Crypto Daily Movers and Shakers September 17, 2021

[ad_1]

Bitcoin, BTC to USD, fell 0.74% on Thursday. Partially reversing a 2.13% gain from Wednesday, Bitcoin ended the day at $ 47,782.0.

A mixed start to the day saw Bitcoin hit an intraday high of $ 48,530.0 by mid-morning before reversing.

Below the first major resistance level at $ 48,813, Bitcoin slipped to an intraday low of $ 47,061.0.

Bitcoin broke through the first major support level at $ 47,093 before a partial rally to $ 47,700.

The short-term uptrend has remained intact, despite the latest return to levels of $ 43,000. 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, Thursday was a mixed day.

Crypto.com Coin rose 2.04% to reverse the trend.

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

Cardanos ADA fell 3.52% to lead the way on the downside.

Binance Coin (-1.62%), Chainlink (-2.93%), Ethereum (-1.30%), Litecoin (-2.08%), Polkadot (-1.82%) and Ripples XRP (- 2.71%) also experienced difficulties.

Bitcoin Cash SV (-0.33%) however recorded a relatively modest loss

During the current week, the total crypto market has fallen to a Monday low of $ 1,958 billion before hitting a Thursday high of $ 2,245 billion. At the time of writing, the total market capitalization was $ 2,181 billion.

Bitcoin dominance fell to a Monday low of 40.36% before climbing back to a Wednesday high of 41.91%. At the time of writing this article, Bitcoin dominance stands at 41.28%.

This morning

At the time of writing, Bitcoin was up 0.09% to $ 47,825.0. A mixed start to the day saw Bitcoin drop to $ 47,711.5 early in the morning before climbing to $ 47,886.0.

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, Bitcoin Cash SV was up 0.85% to lead the way.

For Bitcoin Day Ahead

Bitcoin should avoid a fall through the $ 47,791 pivot to bring into play the first major resistance level at $ 48,521.

The story continues

Broad market support would be needed for Bitcoin to return to levels of $ 48,500.

Barring a large scale crypto rally, the first major resistance level and resistance at $ 49,000 would likely cap the upside.

In the event of a large-scale crypto rally, Bitcoin could test 23.6% FIB resistance of $ 50,473 before any pullback. The second major resistance level is located at $ 49,260.

A pullback on the pivot of $ 47,791 would bring into play the first major support level at $ 47,052.

Unless there is an extended sell-off on that day, Bitcoin is expected to avoid levels below $ 46,000. The second major support level at $ 46,322 should limit the decline.

This article originally appeared on FX Empire

More from FXEMPIRE:

[ad_2]