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Cryptocurrency

Movers and Shakers – August 8th, 2021

Bitcoin, BTC to USD, rose by 4.00% on Saturday. Following a 4.80% rally on Friday, Bitcoin ended the day at $44,568.0.

A bullish start to the day saw Bitcoin rally to a mid-day high $44,553.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $44,193 before sliding to a late afternoon intraday low $42,380.

Steering clear of the 38.2% FIB of $41,592 and the first major support level at $40,708 Bitcoin bounced back to end the day at $44,500 levels.

The rebound saw Bitcoin break back through the first major resistance level at $44,193 to strike an intraday high $44,698.0.

The near-term bullish trend remained intact, supported by the latest return to $44,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Polkadot fell by 1.26% to buck the trend on the day.

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

Ethereum and Ripple’s XRP rallied by 9.34% and by 9.59% respectively to lead the way.

Binance Coin (+4.14%), Bitcoin Cash SV (+5.26%), Cardano’s ADA (+5.12%), Chainlink (+3.56%), Crypto.com Coin (+3.23%) and Litecoin (+5.38%) also found strong support however.

In the current week, the crypto total market fell to a Tuesday low $1,502bn before rising to a Saturday high $1,818bn. At the time of writing, the total market cap stood at $1,797bn.

Bitcoin’s dominance rose to a Monday high 47.27% before falling to a Wednesday low 45.78%. At the time of writing, Bitcoin’s dominance stood at 46.46%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $44,461.0. A mixed start to the day saw Bitcoin rise to an early morning high $44,580.0 before falling to a low $44,335.2.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin found early support, rallying by 4.12%. Polkadot (+0.16%) and Litecoin (+0.06%) also avoided the red early on.

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

At the time of writing, Ethereum was down by 0.35% to lead the way down.

fxempire

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