Many golden bitcoins, closeup

The Crypto Daily – Movers and Shakers – September 30th, 2021

Bitcoin, BTC to USD, rose by 1.18% on Wednesday. Partially reversing a 2.65% fall from Tuesday, Bitcoin ended the day at $41,530.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $40,804.0 before making a move.

Steering clear of the first major support level at $40,402, Bitcoin rallied to a mid-day intraday high $42,606.0.

Bitcoin broke through the 38.2% FIB of $41,592 and the first major resistance level at $42,251.

A bearish afternoon, however, saw Bitcoin fall back through the first major resistance level and 38.2% FIB to revisit sub-$41,000 levels.

Finding late support, however, Bitcoin moved back through to $41,500 levels and into the green.

Late in the day, the 38.2% FIB of $41,592 pegged Bitcoin back.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 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.

Binance Coin surged by 10.36% to lead the way.

Chainlink (+3.71%), Litecoin (+3.01%), Polkadot (+2.40%), and Ripple’s XRP (+3.91%) also found strong support.

Bitcoin Cash SV (+1.39%), Cardano’s ADA (+1.37%), Crypto.com Coin (+0.88%), and Ethereum (+1.59%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $2,014bn before sliding to a Wednesday low $1,808bn. At the time of writing, the total market cap stood at $1,871bn.

Bitcoin’s dominance fell to a Monday low 41.44% before rising to a Tuesday high 42.54%. At the time of writing, Bitcoin’s dominance stood at 42.04%.

This Morning

At the time of writing, Bitcoin was up by 0.63% to $41,792.0. A mixed start to the day saw Bitcoin fall to an early morning low $41,432.0 before rising to a high $41,821.0.

While leaving the major support and resistance levels untested, Bitcoin broke back through the 38.2% FIB of $41,592.

Elsewhere, it was a bullish start to the day.

At the time of writing, Ethereum was up by 0.79% to lead the way.

BTCUSD 300921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the $41,647 pivot and the 38.2% FIB of $41,592 to bring the first major resistance level at $42,489 into play.

Support from the broader market would be needed for Bitcoin to break back through to $42,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high $42,606.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $44,000 levels before any pullback. The second major resistance level sits at $43,449.

A fall back through the $41,647 pivot and the 38.2% FIB of $41,592 would bring the first major support level at $40,687 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$39,000. The second major support level at $39,845 should limit the downside.