The Crypto Daily Movers and Shakers September 28, 2021

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Bitcoin, BTC to USD, fell 2.33% on Monday. Reversing a 1.11% gain from Sunday, Bitcoin ended the day at $ 42,181.0.

A bullish start to the day saw Bitcoin hit an early morning intraday high of $ 44,356.0 before reversing.

Below the first major resistance level at $ 44,502, Bitcoin slipped to an intraday low of $ 42,135.0.

Away from the FIB at 38.2% of $ 41,592 and the first major support level at $ 41,399, Bitcoin ended the day at $ 42,180.

The short-term uptrend has remained intact, despite the latest return to levels below $ 40,000. 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 bearish day on Monday.

Chainlink slipped 6.32% to lead the way.

Cardanos ADA (-3.48%), Ethereum (-4.40%) and Litecoin (-3.66%) also struggled.

Binance Coin (-2.54%), Bitcoin Cash SV (-1.99%), Crypto.com Coin (-1.00%), Polkadot (-1.57%) and Ripples XRP (-2.24% ) recorded relatively modest losses.

At the start of the week, the total crypto market peaked at $ 1.997 billion on Monday before falling to a low on Tuesday of $ 1.880 billion. At the time of writing, the total market cap was $ 1,902 billion.

Bitcoin dominance fell to a Monday low of 41.79% before rising to a Monday high of 42.15%. At the time of writing this article, Bitcoin dominance stands at 41.94%.

This morning

At the time of writing, Bitcoin was up 0.45% to $ 42,369.0. A mixed start to the day saw Bitcoin drop to $ 42,000.0 early in the morning before climbing to $ 42,386.0.

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin held up to the initial trend, falling 2.60%.

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

At the time of writing this article, Bitcoin Cash SV was up 1.48% to lead the way.

For Bitcoin Day Ahead

Bitcoin is expected to break through the pivot of $ 42,891 to bring into play the first major resistance level at $ 43,646.

The story continues

Broad market support would be needed for Bitcoin to break out of the $ 43,500 levels.

Barring a full-scale crypto rally, the first major resistance level and Monday’s high of $ 44,356 would likely cap the upside.

In the event of a large-scale crypto rally, Bitcoin could test resistance at levels of $ 45,000 before any pullbacks. The second major resistance level is located at $ 45,112.

Failure to break through the $ 42,891 pivot would push the FIB to 38.2% of $ 41,592 and the first major support level to $ 41,425.

Barring another extended sale on that day, Bitcoin should avoid the $ 40,000. The second major support level at $ 40,670 should limit the decline.

This article originally appeared on FX Empire

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