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The Crypto Daily – Movers and Shakers – October 21st, 2021

Bitcoin, BTC to USD, rose by 2.73% on Wednesday. Following a 3.64% rally on Tuesday, Bitcoin ended the day at $66,021.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $63,535.0 before making a move.

Steering clear of the first major support level at $62,280, Bitcoin rallied to an early afternoon intraday high and a new swing hi $66,958.0.

Bitcoin broke through the first major resistance level at $65,333 and the second major resistance level at $66,404 before easing back to sub-$66,000 levels.

Finding late support, however, Bitcoin wrapped up the day at $66,000 levels.

The near-term bullish trend remained intact, supported the latest return to $66,000 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 Wednesday.

Litecoin rallied by 9.85% to lead the way, with Ethereum rallying by 7.31%.

Chainlink (+5.98%), Polkadot (+4.62%), and Ripple’s XRP (+4.90%) also found strong support.

Binance Coin (+2.72%) Bitcoin Cash SV (+3.85%), Cardano’s ADA (+3.81%), and Crypto.com Coin (+3.96%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $2,385bn before rising to a Wednesday high $2,701bn. At the time of writing, the total market cap stood at $2,651bn.

Bitcoin’s dominance fell to a Monday low 46.33% before rising to a Wednesday high 47.73%. At the time of writing, Bitcoin’s dominance stood at 46.76%.

This Morning

At the time of writing, Bitcoin was down by 0.50% to $65,693.2. A bearish start to the day saw Bitcoin fall from an early morning high $66,022.0 to a low $65,687.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+0.08%) and Crypto.com Coin (+0.03%) avoided the red early on.

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

At the time of writing, Binance Coin was down by 0.54% to lead the way down.

BTCUSD 211021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $65,505 pivot to bring the first major resistance level at $67,474 into play.

Support from the broader market would be needed for Bitcoin to breakout from Wednesday’s new swing hi $66,958.0

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of another breakout, Bitcoin could test resistance at $70,000 levels before any pullback. The second major resistance level sits at $68,928.

A fall through the $65,505 would bring the first major support level at $64,051 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$64,000 levels, The second major support level sits at $62,082.