The Crypto Daily – Movers and Shakers – November 27, 2021

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Bitcoin, BTC to USD, slipped 8.77% on Friday. Reversing a 3.25% gain from Thursday, Bitcoin ended the day at $ 53,839.

A mixed morning saw Bitcoin hit an early morning intraday high of $ 59,238 before reversing.

Below the first major resistance level at $ 59,937, Bitcoin slipped to an intraday low of $ 53,555.

The extended sell-off saw Bitcoin fall through the day’s major support levels and through the 23.6% FIB of $ 53,628.

Finding support in the early afternoon, however, Bitcoin revisited $ 54,800 levels before ending the day at $ 53,800 levels.

The partial rally saw Bitcoin break through the FIB 23.6% of $ 53,628 and the third major support level at $ 53,780.

The short-term uptrend has remained intact, despite the latest pullback to levels below $ 54,000. 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 bearish day on Friday.

Litecoin led the way, slipping 12.26%.

Binance Coin (-8.00%), Bitcoin Cash SV (-9.00%), Cardano ADA (-8.41%), Chainlink (-9.20%), Crypto.com Coin (-10.63 %), Ethereum (-10.68%) and Ripple’s XRP (-10.18%) also saw a deep red.

Polkadot (-3.93%), however, recorded relatively modest losses.

During the current week, the total crypto market hit a Thursday high of $ 2.685 billion before falling to a Friday low of $ 2.334 billion. At the time of writing, the total market capitalization is $ 2.4 trillion.

Bitcoin’s dominance fell to a Thursday low of 41.75% before hitting a Friday high of 43.32%. At the time of writing this article, Bitcoin’s dominance stands at 42.30%.

This morning

At the time of this writing, Bitcoin was up 0.73% at $ 54,231. Mixed start to the day saw Bitcoin drop to $ 53,711 early in the morning before climbing to $ 54,479

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.73%) and Crypto.com Coin (-1.81%) held up to the initial trend.

The story continues

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

At the time of writing, Litecoin was up 1.62% to lead the way.

For Bitcoin Day Ahead

Bitcoin is expected to break through the pivot of $ 55,544 to bring into play the first major resistance level at $ 57,533.

Broad market support would be needed for Bitcoin to break out of the $ 55,000 levels.

Barring a prolonged crypto rally, the first major resistance level would likely cap the upside.

In the event of a prolonged rally, Bitcoin could test resistance at levels of $ 60,000 before slowing down. The second major resistance level is located at $ 61,227.

Failure to break through the $ 55,544 pivot would cause the FIB to 23.6% of $ 53,628 and the first major support level to $ 51,850.

Unless another extended sell-off that day, Bitcoin is expected to avoid levels below $ 50,000. The second major support level is at $ 49,861.

This article originally appeared on FX Empire

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