The Crypto Daily – Movers and Shakers – September 12th, 2021
Bitcoin, BTC to USD, rose by 0.57% on Saturday. Partially reversing a 3.33% loss from Friday, Bitcoin ended the day at $45,107.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $44,750,0 before making a move.
Steering clear of the first major support level at $43,657, Bitcoin rose to a late afternoon intraday high $45,990.0.
Falling short of the first major resistance level at $46,546, however, Bitcoin eased back to end the day at sub-$45,200 levels.
The near-term bullish trend remained intact, in spite of the latest return to $43,000 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 bullish day on Saturday
Cardano’s ADA rallied by 10.60% to lead the way, with Polkadot (+7.34%) close behind.
Bitcoin Cash SV (+2.97%), Chainlink (+2.29%), Litecoin (+2.55%) and Ripple’s XRP (+2.14%) also made solid gains.
Binance Coin (+0.86%), Crypto.com Coin (+1.61%), and Ethereum (+1.79%) trailed the front runners, however.
In the current week, the crypto total market rose to a Tuesday high $2,438bn before tumbling to a Tuesday low $1,835bn. At the time of writing, the total market cap stood at $2,083bn.
Bitcoin’s dominance rose to a Tuesday high 43.64% before falling to a Friday low 39.92%. At the time of writing, Bitcoin’s dominance stood at 40.76%.
This Morning
At the time of writing, Bitcoin was down by 0.02% to $45,161.0. A mixed start to the day saw Bitcoin fall to an early morning low $45,138.0 before rising to a high $45,201.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.13%), Bitcoin Cash SV (-0.08%), Cardano’s ADA (-0.33%), and Ethereum (-0.13%) joined Bitcoin in the red.
It was a bullish start for the rest of the majors, however.
At the time of writing, Polkadot was up by 1.25% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move through the $45,282 pivot to bring the first major resistance level at $45,815 into play.
Support from the broader market would be needed for Bitcoin to break out from $45,500 levels.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $45,990.0 would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $47,000 before any pullback. The second major resistance level sits at $46,522.
Failure to move through the $45,282 pivot would bring the first major support level at $44,575 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$44,000. The second major support level at $44,042 should limit the downside.
This article was originally posted on FX Empire