The Crypto Daily – Movers and Shakers – November 22, 2021

[ad_1]

Bitcoin, from BTC to USD, fell 1.81% on Sunday. Partially reversing a 2.73% gain from Saturday, Bitcoin ended the week down 10.36% to $ 58,691.0.

A bearish start to the day saw Bitcoin fall to an intraday low of $ 58,603.0 in the late morning before moving.

Away from the first major support level at $ 58,182, Bitcoin hit an intraday high of $ 60,050.0 late in the afternoon.

However, below the first major resistance level at $ 60,618, Bitcoin fell back to end the day at levels below $ 59,000.

The short-term uptrend has remained intact, despite the latest pullback to levels below $ 56,000. For bears, Bitcoin would need a sustained decline through the 62% FIB of $ 28,814 to form a short-term downtrend.

The rest of the pack

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

Crypto.com Coin jumped 26.39% to lead the way.

Bitcoin Cash SV (+ 0.12%), Chainlink (+ 2.48%) and Polkadot (+1.46%) also reversed the trend of the day.

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

Cardano’s ADA fell 4.55% to lead the way on the downside.

Binance Coin (-3.37%), Ethereum (-3.47%), Litecoin (-2.44%), and Ripple’s XRP (-3.41%) also joined Bitcoin in the red.

It was also a mixed week ending November 21 for the majors.

Crypto.com Coin jumped 65.35%, with Polkadot (+ 1.02%) also finding support to reverse the broader market trend.

Litecoin fell 20.72% to lead the way, however, with Chainlink (-13.85%) also deep in the red.

Binance Coin (-10.16%), Bitcoin Cash SV (-10.46%), Cardano’s ADA (-9.95%) and Ripple’s XRP (-10.67%) also suffered heavy losses.

Ethereum, however, fell 7.86% more modestly during the week.

During the week, the total crypto market peaked at $ 2.904 billion on Monday before falling to a low of $ 2.393 billion on Friday. At the time of writing, the total market cap was $ 2.567 billion.

Bitcoin’s dominance peaked at 44.28% on Thursday before falling to a low of 42.34% on Friday. At the time of writing this article, Bitcoin’s dominance stands at 42.92%.

This morning

The story continues

At the time of this writing, Bitcoin was down 0.61% to $ 58,334.0. A mixed start to the day saw Bitcoin hit an early morning high of $ 58,829.0 before falling to $ 58,083.0.

Bitcoin tested the first major support level at $ 58,179 early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up 6.63%, Bitcoin Cash SV (+ 1.11%) and Polkadot (+ 0.29% also finding support.

It was a bearish start for the rest, however.

At the time of writing, Chainlink was down 1.99% to lead the way.

For Bitcoin Day Ahead

Bitcoin is expected to break through the $ 59,115 pivot to bring into play the first major resistance level at $ 59,626.

Broad market support would be needed for Bitcoin to return to levels of $ 59,000.

Barring a full scale crypto rally, the first major resistance level and Sunday’s $ 60,050.0 high would likely cap the upside.

In the event of a prolonged rally, Bitcoin could test resistance at $ 63,000 before slowing down. The second major resistance level is located at $ 60,562.

Failure to break through the $ 59,115 pivot would bring the first major support level down to $ 58,179 in play.

Unless there is an extended sell-off on that day, Bitcoin is expected to avoid levels below $ 57,000. The second major support level at $ 57,668 should limit the decline.

This article originally appeared on FX Empire

More from FXEMPIRE:

[ad_2]