The Crypto Daily – Movers and Shakers -29/05/20

Bitcoin rallied by 4.11% on Thursday. Following on from a 4.12% breakout on Wednesday, Bitcoin ended the day at $9,589.3.

A mixed start to the day saw Bitcoin fall to a mid-morning intraday low $9,118.2 before making a move.

Steering clear of the first major support level at $8,946.67, Bitcoin rallied to a final hour intraday high $9,630.3.

Bitcoin broke through the first major resistance level at $9,349.47 and second major resistance level at $9,488.63 before easing back.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was also a bullish day for the majors on Thursday.

Cardano’s ADA surged by 17.71% to lead the way.

Binance Coin (+3.64%), Bitcoin Cash ABC (+3.34%), Ethereum (+5.77%), Monero’s XMR (+4.28%), Stellar’s Lumen (+4.92%), Tezos (+4.37%), and Tron’s TRX (+3.12%) also found strong support.

Bitcoin Cash SV (+1.17%), EOS (+1.67%), Litecoin (+2.05%), and Ripple’s XRP (+1.37%) trailed the front runners.

In the current week, the crypto total market cap fell to an early Monday low $238.04bn before rising to an early Friday high $263.53bn. At the time of writing, the total market cap stood at $261.58bn.

Bitcoin’s dominance fell to a Monday low 66.38% before a Thursday 69.54% spike. At the time of writing, Bitcoin’s dominance stood at 66.99%.

This Morning

At the time of writing, Bitcoin was down by 0.57% to $9,535.0. A mixed start to the day saw Bitcoin rise to an early morning high $9,618.8 before falling to a low $9,483.5.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA joined Bitcoin in the red, with a 0.46% loss at the time of writing.

It was a bullish start to the day for the rest of the pack, however.

EOS led the way early on, rallying by 1.49%.

BTC/USD 29/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,450 levels to bring the first major resistance level at $9,773.67 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $9,630.3.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of another extended crypto rally, the second major resistance level at $9,958.03 and the 62% FIB of $10,034 would likely come into play.

Failure to avoid sub-$9,450 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low to sub-$9,450 levels would bring the first major support level at $9,261.57 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $8,933.83.

The Crypto Daily – Movers and Shakers -27/05/20

Bitcoin fell by 0.62% on Tuesday. Partially reversing a 2.20% gain from Monday, Bitcoin ended the day at $8,845.5.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $9,013.3 before hitting reverse.

Falling short of the first major resistance level at $9,037.13, Bitcoin slid to a late afternoon intraday low $8,704.9.

Steering clear of the first major support level at $8,693.43, Bitcoin recovered to $8,800 levels to limit the loss on the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day for the majors on Tuesday.

Monero’s XMR rose by 0.24% to buck the trend.

It was a bearish day for the rest of the pack, however.

Bitcoin Cash SV slid by 2.57% to lead the way down.

Binance Coin (-1.04%), Ethereum (-1.58%), Litecoin (-1.61%), Ripple’s XRP (-1.20%), Stellar’s Lumen (-1.76%), and Tezos (-1.54%) also struggled.

Bitcoin Cash ABC (-0.18%), Cardano’s ADA (-0.69%), EOS (-0.76%), and Tron’s TRX (-0.74%) saw relatively modest losses on the day.

Early in the week, the crypto total market cap fell to an early Monday low $238.04bn before rising to a Tuesday high $247.84bn. At the time of writing, the total market cap stood at $243.55bn.

Bitcoin’s dominance fell to a Monday low 66.38% before rising to a Tuesday high 66.86%. At the time of writing, Bitcoin’s dominance stood at 66.57%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $8,824.0. A mixed start to the day saw Bitcoin rise to an early morning high $8,896.5 before falling to a low $8,822.7.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Monero’s XMR led the way down, with losses of 0.87% and 0.53% respectively.

Ethereum (+0.28%), Litecoin (+0.17%), and Ripple’s XRP (+0.49%) bucked the trend early on.

BTC/USD 27/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,860 levels to bring the first major resistance level at $9,004.23 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,896.5.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, the second major resistance level at $9,162.97 would likely come into play.

Failure to move back through to $8,860 levels could see Bitcoin fall deeper into the red.

A fall back through the morning $8,822.2 would bring the first major support level at $8,695.83 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,546.17.

How to Invest in Cryptocurrencies: The Complete Guide for 2020

Seasoned investors continue to cross over from the more mature asset classes and regulators have eased off on the Crypto assault that led to the 2018 slump.

With Bitcoin and the broader market sitting at more than 50% below their all-time highs, there is still plenty of incentive to enter the crypto sphere.

For many, however, the crypto market may seem like a maze. There are a tremendous number of exchanges and brokers and that is before considering regulations imposed by regulators in recent years.

Investing in cryptocurrencies requires a level of due diligence not too dissimilar to the research involved in other more mature asset classes.

The volatility and sizeable returns on offer have certainly allowed investors to dream. After all, Bitcoin has yielded a mass number of Bitcoin millionaires, more commonly known as whales.

So, how do we invest in cryptocurrencies?

While there are multiple considerations, some are more important than others when looking to enter the crypto market.

Just jumping in on a whim that the majors will reach historical highs is a dangerous game. This is no dissimilar to jumping into the equity markets when they are sitting at record highs.

There is one material difference, however. The regulatory landscape has materially changed since late 2017. For this very reason, investors may continue to face plenty of uncertainty before the market can find a return to the hay days.

Understanding the key drivers and market characteristics are therefore particularly important.

Basic Essentials

In this guide, you will learn the key preparations that you need in order to build your cryptocurrency portfolio.

Before making an investment, deciding on the source of funds would certainly be step 1.

In spite of the current interest rate environment, it is recommended that you avoid funding the portfolio with debt.

Credit Card or Bank Account – Investors will, therefore, need to decide on cash or credit card. As an investor, you can either fund your crypto trading account with a debit/credit card or by funding with a bank transfer.

It is worth noting, however, that certain jurisdictions have banned the funding of crypto exchanges with credit cards. Some banks have even taken a step further and banned the transfer of fiat money to such exchanges.

Nonetheless, the simplest method to fund a crypto exchange account is with a credit/debit card. This does tend to come with higher fees and caps on transfer amounts, however.

Fiat to Bitcoin Exchange

First, you need to decide on which cryptocurrency or cryptocurrencies that you wish to trade.

You would then need to identify the exchanges that have the largest trading volumes for the chosen cryptocurrencies.

One consideration here is your source of funds. Not all exchanges allow fiat money deposits. A vast majority of exchanges restrict deposits to Bitcoin.

Carrying out the necessary research on the most appropriate exchange is important. If you are looking for an exchange that accommodates the purchase of Bitcoin with fiat money:

Coinbase is popular and easy to use, with a strong global presence. The exchange has the necessary security measures as well as delivering adequate liquidity for trading.

When searching for the right exchange, it is worth noting that each has its pros and cons. The important thing is to identify the exchange that, first and foremost, delivers on your personal requirements.

Other popular exchanges include:

These crypto exchanges not only cater to Bitcoin investors and traders but altcoins in general.

It’s also worth considering exchanges that offer a wider choice of cryptocurrencies and altcoins. This would allow you to diversify your investments and gain exposure to the broader crypto market.

We recommend that you use Coingecko to research the respective cryptocurrencies and volumes across the exchanges.

Bitcoin to Crypto Exchange

The next exchanges that you should look into are the ones you will be using for the Altcoins. Many of the smaller coins, my market cap, are generally not supported by larger exchanges. Generally speaking, the only way to buy those smaller coins is by buying them using Bitcoins or Ethereum.

On most exchanges, you need to deposit Bitcoins as you cannot buy coins directly from the exchange. This is why it’s crucial that you have a Fiat to Bitcoin Exchange first.

You can buy Altcoins from Binance, BitTrex, Kucoin, and Kraken.

Choose the Right Wallet

The next step in the crypto investment journey is to select the appropriate crypto wallets. It is essential to have your crypto wallet before buying any cryptocurrencies. You will need wallets to store your coins within your secure personal wallets.

While exchanges allow investors to hold purchases coins within assigned exchange wallets, it’s recommended that you withdraw your cryptos and hold them in private wallets. This protects you and your investments from hackers and theft. It is also worth noting that wallet compatibility also needs to be considered.

Crypto wallets to choose from include but are not limited to:

Before Getting Started

Prior to deciding on the most suitable crypto exchanges and wallets to support your trading activity, you need a trading strategy. As part of your strategy build, there are a number of factors to keep in mind:

  • Only invest in what you can afford to lose
  • Do not take a loan to invest
  • Do your own research, monitor the news wires, and view technical analysis on the respective cryptos that you decide to go with. FX Empire covers the largest cryptos, with exchanges also providing technical analysis to their users free of cost.
  • Set realistic expectations, don’t be greedy, and know when to accept a loss. (It is easy to be influenced by the news wires and overzealous analysts talking of the next crypto boom or doom. It is best to block out such noise.

Forming a Crypto Trading Strategy

While identifying the most appropriate wallets and exchanges are vital, formulating a trading strategy is undoubtedly the most important pre-investment step for a prospective trader.

Key Decisions:

  • Cryptocurrency selection – A blend of the largest cryptos along with medium-sized to small cryptos by market cap is recommended. This also addresses any liquidity issues for the overall portfolio.
  • Worth noting – A certain cryptocurrencies may have values that exceed the intended investment size. In such instances, identifying an exchange that offers CFDs or partial investment of a crypto coin is important.
  • Trader durations – For traders with adequate time to trade, a short, medium, and longer-term trading strategy would make sense.
    • Smaller size, more volatile, coins increase earnings potential intraday. These should ideally form no more than 20% of the total investment pool.
    • The Largest coins should form longer-term strategies. With adequate research, however, smaller coins may also form part of this strategy.
    • For the more medium-term strategies, which would be anything beyond intraday but less than a month, a blended portfolio is recommended. This can comprise of small, medium, and large-cap coins.
  • In any trading strategy -using risk management tools and indicators is recommended. While there are fees incurred for using stop loss and trade profit, using these would protect your downside.

80/20 Rule

When considering crypto market volatility and the rise and fall of the smaller coins, an 80/20 blend of large-cap to mid to small-cap would be recommended.

This would provide the opportunity to make sizeable gains any sudden surge in the small to mid-cap cryptos, whilst also holding the more stable coins. Do note that stable is a relative term in the crypto market. Even Bitcoin can see sizeable swings on a given day…

Does the Number of Coins Matter?

It ultimately boils down to the investment strategy that you build. With a blended portfolio, 1 Bitcoin may make up your large-cap portfolio, or 20 Litecoin for instance. It is important to focus on the blend rather than the actual number of coins that make up each component of the portfolio.

Recommendations

Below is a range of cryptos to consider the different components of your portfolio. This is not a comprehensive breakdown of the broader market and there may be coins that are more to your liking. As always, carry out the necessary research before hitting the buy or sell order…

Large Caps

Tezos, Ripple, Bitcoin, Ethereum, EOS, Cardano, Bitcoin Cash SV, Bitcoin Cash ABC, and Binance Coin.

Mid-Caps

Zcash, VeChain, True USD, Tron’s TRX, Qtum, OmiseGo, OKB, NEO, Ethereum Classic, Dogecoin, DASH, and Cosmos. These have been selected based on 24-hour volumes and have market caps of between $100m and $1bn.

Low Caps

This will consist of cryptos with a market cap of less than $100m and will likely have lower trading volumes. That means less liquidity, which is why this component should form a lower proportion of the portfolio.

Unibright, Theta Fuel, Status, MCO, Matic Network, IOST, HyperCash, BitTorrent, and ABBC Coin.

Next Steps

Once you have built your strategy, selected your cryptos, opened your trading accounts, and set up your wallets, it’s time to trade.

While you may be able to have a better sense of when to enter more mature markets, such as the global equity market, it’s less simple to pick the right entry point in the crypto world.

Other than entering at an all-time high, there’s no hard and fast rule other than waiting for any sell-off to flatten out.

Once you start trading, remain disciplined, and ensure you run your risk parameters each day.

These will include your charts that should have your support and resistance levels embedded.

And remember, not every trade will yield a return, so don’t panic should your first trade take a hit.

The Crypto Daily – Movers and Shakers -25/05/20

Bitcoin slid by 5.08% on Sunday. Reversing a 0.15% gain from Saturday, Bitcoin ended the week down by 9.91% to $8,710.10.

A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $9,300.0 before hitting reverse.

Bitcoin came up against the first major resistance level at $9,295.47 before falling to a late afternoon low $8,859.2.

The reversal saw Bitcoin fall through the first major support level at $9,064.27 and the second major support level at $8,952.93.

Finding late support, Bitcoin briefly recovered to a high $9,075 before a final hour sell-off.

The sell-off saw Bitcoin slide back through the first major support level and second major support level to an intraday low $8,688.0.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was also a bearish end to the week on Sunday.

Cardano’s ADA slid by 6.80% to lead the way down.

Bitcoin Cash ABC (-5.47%), Litecoin (-4.08%), Monero’s XMR (-4.06%), Stellar’s Lumen (-4.74%), Tezos (-4.31%), and Tron’s TRX (-5.15% weren’t far behind.

Binance Coin (-3.09%), Bitcoin Cash SV (-3.77%), EOS (-2.84%), Ethereum (-3.38%), and Ripple’s XRP (-3.27%) saw relatively modest losses on the day.

Sunday’s sell-off delivered mixed results for the week, however.

Cardano’s ADA and Tezos bucked the trend, with gains of 0.20% and 0.81% respectively, Monday through Sunday.

It was a week in the red for the rest of the majors, however.

Bitcoin Cash ABC and Stellar’s Lumen led the way down, with losses of 7.72% and 7.04% respectively.

EOS (-4.92%), Monero’s XMR (-6.72%), Ripple’s XRP (-4.45%), and Tron’s TRX (-5.43%) weren’t far behind.

Binance Coin (-1.90%), Bitcoin Cash SV (-2.71%), Ethereum (-3.58%) and Litecoin (-3.75%) saw relatively modest losses for the week.

In the week, the crypto total market cap rose to a Monday low $268.50bn before falling to a Sunday low $239.63bn. At the time of writing, the total market cap stood at $242.29bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Sunday low 66.51%. At the time of writing, Bitcoin’s dominance stood at 66.64%.

This Morning

At the time of writing, Bitcoin was up by 0.83 to $8,782.2. A mixed start to the day saw Bitcoin fall to an early morning low $8,620.0 before striking a high $8,808.7.

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

Elsewhere, it was a mixed start to the day.

Tron’s TRX (+1.57%), Tezos (+1.20%), Ethereum (+1.06%), Bitcoin Cash ABC (+1.23%), and Binance Coin (+1.11%) led the way early on.

Monero’s XMR was down by 0.15%, however, to buck the trend.

BTC/USD 25/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,900 levels to bring the first major resistance level at $9,110.73 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,808.7.

Barring an extended crypto rebound, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, Bitcoin could revisit $9,300 levels before any pullback. We would expect Bitcoin to come up short of the second major resistance level at $9,511.37, however.

Failure to move through to $8,900 levels could see Bitcoin hit reverse.

A fall back through the morning low $8,620.0 would bring the first major support level at $8,498.73 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,287.37.

The Crypto Daily – Movers and Shakers -24/05/20

Bitcoin rose by 0.15% on Saturday. Following on from a 1.14% gain on Friday, Bitcoin ended the day at $9,175.6.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $9,304.0 before hitting reverse.

Coming within range of the first major resistance level at $9,309.13, Bitcoin slid to a midday intraday low $9,072.8.

Steering clear of the first major support level at $8,975.53, Bitcoin briefly revisited $9,200 levels before easing back.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

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

Monero’s XMR and Tron’s TRX rose by 0.33% and by 0.95% respectively to join Bitcoin in the green.

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

Bitcoin Cash SV (-1.51%), Cardano’s ADA (-1.52%), EOS (-1.04%), Stellar’s Lumen (-1.28%), and Tezos (-1.41%) led the way down.

Binance Coin (-0.66%), Bitcoin Cash ABC (-0.12%), Ethereum (-0.31%), Litecoin (-0.77%), and Ripple’s XRP (-0.90%) saw modest losses on the day.

In the current week, the crypto total market cap rose to a Monday low $268.43bn before falling to a Thursday low $239.96bn. At the time of writing, the total market cap stood at $251.93bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Friday low 66.90%. At the time of writing, Bitcoin’s dominance stood at 67.01%.

This Morning

At the time of writing, Bitcoin was up by 0.04 to $9,179.3. A mixed start to the day saw Bitcoin fall to an early morning low $9,131.3 before striking a high $9,206.3.

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

Elsewhere, it was a bullish start to the day.

Tezos was up by 1.34% early in the morning to lead the majors.

BTC/USD 24/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,200 levels to bring the first major resistance level at $9,295.47 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,206.3.

Barring an extended crypto rebound, the first major resistance level and Saturday’s high $9,304.0 would likely limit any upside.

In the event of an extended crypto rally, the second major resistance level at $9,415.33 would likely come into play.

Failure to move through to $9,200 levels could see Bitcoin hit reverse.

A fall back through the morning low $9,131.3 would bring the first major support level at $9,064.27 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,952.93.

The Crypto Daily – Movers and Shakers -23/05/20

Bitcoin rose by 1.14% on Friday. Partially reversing a 4.68% slide from Thursday, Bitcoin ended the day at $9,162.4.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $8,935.4 before finding support.

Steering clear of the first major support level at $8,726.9, Bitcoin bounced back to a late afternoon intraday high $9,269.0.

Falling short of the first major resistance level at $9,475.7, Bitcoin eased back to sub-$9,200 levels late on.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Friday.

Cardano’s ADA rallied by 8.20% to lead the way.

EOS (+5.24%), Ethereum (+4.39%), Tezos (+6.07%), and Tron’s TRX (+4.67%) also found strong support.

Binance Coin (+3.17%), Bitcoin Cash ABC (+3.26%), Litecoin (+3.66%), Monero’s XMR (+2.37%), Ripple’s XRP (+3.30%), and Stellar’s Lumen (+2.31%) trailed the front runners.

Bitcoin Cash SV saw a modest gain of 1.48% on the day.

In the current week, the crypto total market cap rose to a Monday high $268.43bn before falling to a Thursday low $239.96bn. At the time of writing, the total market cap stood at $253.79bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Friday low 66.90%. At the time of writing, Bitcoin’s dominance stood at 67.03%.

This Morning

At the time of writing, Bitcoin was up by 0.89% to $9,243.5. A bullish start to the day saw Bitcoin rise from an early morning low $9,162.3 to a high $9,266.7.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+1.05%), Bitcoin Cash ABC (+0.87), and Ethereum (+0.84%) led the way early on.

Bitcoin Cash SV (-0.31%) and Tezos (-0.15%) bucked the trend at the start of the day.

BTC/USD 23/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,200 levels to bring the first major resistance level at $9,309.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $9,269.0.

Barring an extended crypto rebound, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, the second major resistance level at $9,455.87 would likely come into play. Resistance at $9,500 may limit any upside, however.

Failure to avoid sub-$9,200 levels could see Bitcoin hit reverse.

A fall back through to sub-$9,120 levels would bring the first major support level at $8,975.53 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,788.67.

The Crypto Daily – Movers and Shakers -22/05/20

Bitcoin slid by 4.68% on Thursday. Following on from a 2.74% fall on Wednesday, Bitcoin ended the day at $9,057.1.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $9,564.1 before hitting reverse.

Falling short of the first major resistance level at $9,796.13, Bitcoin slid to a late intraday low $8,815.3.

Bitcoin slid through the first major support level at $9,254.43 and second major support level at $9,006.87 before finding support.

Late in the day, Bitcoin broke back through the second major support level to $9,150 levels before easing back.

In spite of the late pullback saw Bitcoin steered clear of the second major support level.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Thursday.

Cardano’s ADA slid by 8.18% to lead the way down.

Bitcoin Cash ABC (-5.01%), EOS (-5.18%), Ethereum (-5.40%), Stellar’s Lumen (-5.98%), Tezos (-6.30%), and Tron’s TRX (-5.35%) also saw particularly heavy losses.

Binance Coin (-4.80%), Litecoin (-3.46%), Monero’s XMR (-4.70%), and Ripple’s XRP (-3.51%) weren’t far behind.

Bitcoin Cash SV saw a relatively modest 1.93% decline to

In the current week, the crypto total market cap rose to a Monday low $268.43bn before falling to a Thursday low $239.96bn. At the time of writing, the total market cap stood at $245.55bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Wednesday low 67.25%. At the time of writing, Bitcoin’s dominance stood at 67.45%.

This Morning

At the time of writing, Bitcoin was down by 0.59% to $9,004.0. A bearish start to the day saw Bitcoin fall from an early morning high $9,060.2 to a low $8,975.0

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

Elsewhere, it was also a bearish start to the day.

Bitcoin Cash SV and Cardano’s ADA led the way down, with losses of 1.26% and 1.04% respectively.

BTC/USD 22/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $9,150 levels to bring the first major resistance level at $9,475.7 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,060.2.

Barring an extended crypto rebound, the first major resistance level would likely limit any upside.

In the event of a broad-based crypto rally, resistance at $9,500 would likely leave Bitcoin short of the second major resistance level at $9,894.3.

Failure to move back through to $9,150 levels could see Bitcoin spend a 3rd consecutive day in the red.

A fall back through Thursday’s low $8,815.3 would bring the first major support level at $8,726.9 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,396.7.

The Crypto Daily – Movers and Shakers -20/05/20

Bitcoin rose by 0.56% on Tuesday. Following on from a 0.48% gain on Monday, Bitcoin ended the day at $9,769.4.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,457.8.

Bitcoin fell through the first major support level at $9,461.87 before rallying to a late morning intraday high $9,878.0.

Falling short of the first major resistance level at $9,955.87, Bitcoin slid back to $9,550 levels and into the red.

Finding support late in the day, however, Bitcoin broke back through to $9,700 levels to end the day in the green.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

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

Binance Coin, Cardano’s ADA, and Tezos rallied by 3.61%, 4.75%, and by 3.19% to lead the way.

Bitcoin Cash ABC (+0.18%), Litecoin (+0.97%), and Tron’s TRX (+2.29%) also found support on the day.

Bitcoin Cash SV (-1.59%), EOS (-0.28%), Ethereum (+0.07%), Monero’s XMR (-0.10%), Ripples XRP (-0.19%), and Stellar’s Lumen (0.64%) struggled, however.

In the current week, the crypto total market cap rose to a Monday low $268.43bn before falling to a Tuesday low $257.06bn. At the time of writing, the total market cap stood at $264.80bn.

Bitcoin’s dominance rose from a Monday low 67.61% to a Tuesday high 67.96% before easing back. At the time of writing, Bitcoin’s dominance stood at 67.89%.

This Morning

At the time of writing, Bitcoin was down by 0.01% to $9,768.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,753.5 before striking a high $9,791.3.

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

Elsewhere, it was also a mixed start to the day.

Bitcoin Cash ABC (-0.62%), Cardano’s ADA (-0.30%), Ethereum (-0.09%), and Tron’s TRX (-1.22%) saw red early on.

Bitcoin Cash SV led the rest of the majors, however, with a 1.28% gain.

BTC/USD 20/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,700 levels to bring the first major resistance level at $9,945.67 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,878.0.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, the 62% FIB of $10,034 and the second major resistance level at $10,121.93 would likely come into play.

Failure to avoid sub-$9,700 levels could see Bitcoin fall deep into the red.

A fall back through to sub-$9,700 levels would bring the first major support level at $9,525.47 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,281.53.

The Crypto Daily – Movers and Shakers -18/05/20

Bitcoin rallied by 3.01% on Sunday. Following on from a 0.86% gain on Saturday, Bitcoin ended the week up by 10.86% to $9,668.2.

It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $9,329.7 to a mid-afternoon intraday high $9,883.5 before hitting reverse.

Bitcoin broke through the first major resistance level at $9,571.33 and the second major resistance level at $9,754.67.

A late pullback saw Bitcoin fall through the second major resistance level to $9,601.9 before finding support.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed end to the week.

Ethereum led the rest of the pack, rallying by 3.27%.

Binance Coin (+1.31), Bitcoin Cash ABC (+0.90%), Bitcoin Cash SV (+1.12%), Cardano’s ADA (+0.41%), Litecoin (+1.11%), Ripple’s XRP (+0.79%), Stellar’s Lumen (+1.51%), and Tron’s TRX (+0.34%) also saw green.

Monero’s XMR (-0.14%) and Tezos (-0.49%) bucked the trend on the day, with relatively minor losses.

It was a bullish week for the majors, however. Ethereum and Monero’s XMR rallied by 10.34% and by 10.58% to lead the way.

Binance Coin (+5.79%), Cardano’s ADA (+7.33%), EOS (+6.99%), Stellar’s Lumen (+6.23%) also found strong support.

Bitcoin Cash ABC (+2.44%), Bitcoin Cash SV (+3.48%), Litecoin (+3.78%), Ripple’s XRP (+2.07%), Tezos (+2.45%), and Tron’s TRX (+4.93%) trailed the front runners.

Through the week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $265.59bn.

Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.5%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes revisiting $190bn levels before easing back. At the time of writing, 24-hr volumes stood at $129.67bn.

This Morning

At the time of writing, Bitcoin was up by 0.74% to $9,740.1. A bullish start to the day saw Bitcoin rise from an early morning low $9,668.1 to a high $9.774.8.

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

Elsewhere, it was also a bullish start to the day for the majors. Binance Coin led the way early on, with a 1.51% gain.

BTC/USD 18/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,630 levels to bring the first major resistance level at $9,924.57 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Sunday’s high $9,883.5.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of rebound, the 62% FIB of $10,034 and the second major resistance level at $10,180.93 would likely come into play.

Failure to avoid sub-$9,630 levels could see Bitcoin struggle at the start of the week.

A fall back through to sub-$9,600 levels would bring the first major support level at $9,370.77 into play.

Barring a crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels. The second major support level at $9,073.33 would likely limit any downside.

The Crypto Daily – Movers and Shakers -17/05/20

Bitcoin rose by 0.86% on Saturday. Partially reversing a 4.90% slide from Friday, Bitcoin ended the day at $9,388.0.

A bullish start to the day saw Bitcoin rise from an intraday low $9,222.0 to an early morning intraday high $9,580.0.

Falling short of the first major resistance level at $9,730.0, Bitcoin fell back to sub-$9,300 levels by the late afternoon.

The visit into the red was brief, however, with support from the broader market kicking in late in the day.

Bitcoin broke back through to $9,400 levels before easing back in the final hour.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Monero’s XMR and Tezos led the way, with gains of 4.22% and 5.78% respectively.

Binance Coin (+2.42%), Cardano’s ADA (+1.81%), EOS (+1.90%), Ethereum (+3.02%), Stellar’s Lumen (+1.85%) also found strong support.

Bitcoin Cash ABC (+0.26%), Bitcoin Cash SV (+0.89%), Litecoin (+1.33%), Ripple’s XRP (+0.81%), and Tron’s TRX (+0.76%) trailed the front runners.

Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $260.41bn.

Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.3%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes revisiting $190bn levels before sliding back. At the time of writing, 24-hr volumes stood at $118.41bn.

This Morning

At the time of writing, Bitcoin was up by 1.44% to $9,523.1. A mixed start to the day saw Bitcoin fall to an early morning low $9,329.7 before striking a high $9,581.7.

Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $9,571.33 early on.

Elsewhere, it was a mixed start to the day for the majors.

Bitcoin Cash SV led the way, with a 0.82% gain, while EOS and Monero’s XRM bucked the trend, with losses of 0.05% and 0.49% respectively.

BTC/USD 17/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,500 levels to break back through the first major resistance level at $9,571.33.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,581.7.

Barring an extended crypto rebound, the first major resistance level and Saturday’s high $9,580 would likely limit any upside.

In the event of an extended rally, the second major resistance level at $9,754.67 would likely come into play before any pullback.

Failure to break back through the first major resistance level could see Bitcoin hit reverse.

A fall back through to sub-$9,400 levels would bring the first major support level at $9,213.33 into play.

Barring a crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels. The second major support level at $9,038.67 would likely limit any downside.

The Crypto Daily – Movers and Shakers -16/05/20

Bitcoin slid by 4.90% on Friday. Reversing a 5.14% rally from Thursday, Bitcoin ended the day at $9,311.2.

A mixed start to the day saw Bitcoin slide from an intraday high $9,848.9 to an early morning low $9,260.0.

Bitcoin fell through the first major support level at $9,391.9 before recovering to $9,800 levels.

The recovery was brief, however. Through the 2nd half of the day, Bitcoin slid to a late intraday low $9,130.2.

Bitcoin fell back through the first major support level to wrap up the day in the deep red.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Binance Coin (-4.33%), Bitcoin Cash SV (-4.39%), Ethereum (-4.28%) and Monero’s XMR (-4.15%) led the way down.

Bitcoin Cash ABC (-2.91%), Litecoin (-2.98%), Ripple’s XRP (-3.13%), Stellar’s Lumen (-3.00%), Tezos (-2.51%), and Tron’s TRX (-3.39%) weren’t far behind.

Cardano’s ADA and EOS saw more modest losses of 1.49% and 1.73% respectively.

Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $256.87bn.

Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.2%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes revisiting $190bn levels. At the time of writing, 24-hr volumes stood at $148.96bn.

This Morning

At the time of writing, Bitcoin was up by 0.56% to $9,363.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,222.0 before striking a high $9,417.0.

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

Elsewhere, it was a bullish start to the day for the majors.

Bitcoin Cash ABC and Monero’s XRM led the way with gains of 1.35% and 1.31% respectively.

BTC/USD 16/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,430 levels to bring the first major resistance level at $9,730.0 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,417.0.

Barring an extended crypto rebound, the first major resistance level and Friday’s high $9,848.9 would likely limit any upside.

In the event of rebound, the 62% FIB of $10,034 could come into play before any pullback.

Failure to break back through to $9,430 levels could see Bitcoin hit reverse.

A fall back through the morning low $9,222.0 would bring the first major support level at $9,011.3 into play.

Barring a crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,711.4.

The Crypto Daily – Movers and Shakers -15/05/20

Bitcoin rallied by 5.14% on Thursday. Following on from a 5.68% breakout on Wednesday, Bitcoin ended the day at $9,791.0.

A mixed start to the day saw Bitcoin fall to an early morning low $9,266.2 before making a move.

Steering clear of the first major support level at $8,938.33, Bitcoin rallied to a late morning intraday high $9,938.7.

Bitcoin broke through the first major resistance level at $9,564.83 and the second major resistance level at $9,781.67.

Pinned back by resistance at $10,000, Bitcoin fell back through the major resistance levels before a late recovery.

The late recovery saw Bitcoin break back through the first and second major resistance levels to wrap up the day at $9,790 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was another mixed day on Thursday.

EOS rallied by 4.01% to lead the rest of the majors.

Bitcin Cash ABC (+2.08%), Bitcoin Cash SV (+1.49%), Ethereum (+1.74%), Litecoin (+1.73%), and Tron’s TRX (+1.45%) also found strong support.

Binance Coin (+0.86%), Monero’s XMR (+0.35%), and Ripple’s XRP (+0.96%) trailed the front runners.

Cardano’s ADA (-1.22%), Stellar’s Lumen (-0.96%), and Tezos (-0.22%) bucked the trend on the day.

Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Thursday high $265.28bn. At the time of writing, the total market cap stood at $260.67bn.

Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.5%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on mid-week, however, with volumes returning to $190bn levels on Thursday. At the time of writing, 24-hr volumes stood at $183.73bn.

This Morning

At the time of writing, Bitcoin was down by 3.09% to $9,488.6. A bearish start to the day saw Bitcoin fall from an early morning high $9,848.9 to a low $9,260.0.

Bitcoin fell through the first major support level at $9,391.90 before finding support.

Elsewhere, it was also a bearish start to the day for the majors.

Litecoin was down by 1.91% to lead the rest of the pack into the red early on.

BTC/USD 15/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through to $9,665 levels to bring the first major resistance level at $10,064.40 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Thursday’s high $9,938.7.

Barring a broad-based crypto rebound, however, resistance at $10,000 would likely leave Bitcoin short of the major resistance levels.

In the event of rebound, the second major resistance level at $10,337.8 could come into play.

Failure to break back through to $9,665 levels could see Bitcoin fall deeper into the red.

A fall back through the first major support level would bring the second major support level at $8,992.8 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels.

The Crypto Daily – Movers and Shakers -13/05/20

Bitcoin rallied by 3.00% on Tuesday. Reversing a 1.90% loss from Monday, Bitcoin ended the day at $8,811.4.

A bullish morning saw Bitcoin rally from an early intraday low $8,526.4 to a late afternoon intraday high $8,968.0.

Falling short of the first major resistance level at $9,064.73, Bitcoin fell back to sub-$8,800 levels before finding late support.

Steering well clear of the first major support level at $8,122.73, Bitcoin wrapped up the day at $8,800 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Bitcoin Cash ABC and Bitcoin Cash SV slid by 1.40% and by 1.17% respectively to buck the trend.

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

Stellar’s Lumen surged by 12.16% to lead the way, with Cardano’s ADA (+5.52%) a distant 2nd.

Binance Coin (+4.77%), Monero’s XMR (+3.42%), Tezos (+3.47%), and Tron’s TRX (+3.23%) also found strong support.

EOS (+1.60%), Ethereum (+2.24%), Litecoin (+1.83%), and Ripple’s XRP (+2.47%) trailed the front runners.

Through the start of the week, the crypto total market cap rose to a Monday high $245.2bn before sliding to a low $229.41bn. The market recovery on Tuesday led to a move back through to $244bn levels before easing back. At the time of writing, the total market cap stood at $242.50bn.

Bitcoin’s dominance visited sub-67% levels before rising to a Monday high 67.78%. At the time of writing, Bitcoin’s dominance stood at 67.2%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. At the time of writing, 24-hr volumes stood at $136.45bn.

This Morning

At the time of writing, Bitcoin was up by 0.71% to $8,874.4. A bullish start to the day saw Bitcoin rise from an early morning low $8,799.5 to a high $8,898.6.

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

Elsewhere, it was a mixed bag for the majors.

Monero’s XMR and Bitcoin Cash SV led the way early on, with gains of 0.55% and 0.52% respectively. EOS also found early support (+0.26%).

It was a bearish start for the rest, however, with Bitcoin Cash ABC down by 0.80% to lead the way down.

BTC/USD 13/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through to $8,900 levels to bring the first major resistance level at $9,010.80 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $8,968.0.

Barring a broad-based crypto rally, the first major resistance level would likely pin Bitcoin back on the day.

In the event of rebound, the second major resistance level at $9,210.20 would likely limit any upside on the day.

Failure to break back through to $8,900 levels would likely see Bitcoin fall back into the red.

A fall through to sub-$8,770 levels would bring the first major support level at $8,569.20 into play.

In the event of another extended sell-off, Bitcoin should steer clear of sub-$8,000 levels. The second major support level at $8,327.0 should limit any downside.

The Crypto Daily – Movers and Shakers -12/05/20

Bitcoin fell by 1.90% on Monday. Following on from Sunday’s 8.55% tumble, Bitcoin ended the day at $8,555.1.

A mixed start to the day saw Bitcoin fall to a mid-morning low $8,470.6 before finding support.

Steering clear of the major support levels, Bitcoin rallied to a late morning intraday high $9,142.0.

Falling short of the first major resistance level at $9,487.13, Bitcoin slid to a late afternoon intraday low $8,200.0.

Steering clear of the first major support level at $8,029.13, Bitcoin recovered to $8,500 levels to limit the loss.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the rest of the pack.

Tezos slid by 4.92% to lead the way down.

Binance Coin (-1.76%), EOS (-1.87%), Ripple’s XRP (-2.37%), Stellar’s Lumen (-3.56%), and Tron’s TRX (-2.02%) weren’t far behind.

Ethereum (-0.92%), and Litecoin (-1.38%) saw relatively modest losses.

Bitcoin Cash ABC (+0.81%), Bitcoin Cash SV (+2.47%), Cardano’s ADA (+0.40%), and Monero’s XMR (+0.93%) bucked the trend.

Through the start of the week, the crypto total market cap rose to a Monday high $245.2bn before sliding to a low $229.41bn. At the time of writing, the total market cap stood at $235.41bn.

Bitcoin’s dominance visited sub-67% levels before rising to a Monday high 67.78%. At the time of writing, Bitcoin’s dominance stood at 67.1%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back. At the time of writing, 24-hr volumes stood at $181.93bn.

This Morning

At the time of writing, Bitcoin was up by 0.96% to $8,637.3. A bullish start to the day saw Bitcoin rise from an early morning low $8,526.4 to a high $8,658.5.

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

Elsewhere, Cardano’s ADA continued to find strong support, with a 1.45% gain to lead the way.

BTC/USD 12/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through to $8,700 levels to bring the first major resistance level at $9,064.73 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,000 levels.

Barring a broad-based crypto rally, resistance at $9,000 would likely pin Bitcoin back on the day.

In the event of rebound, the first major resistance level at $9,064.73 would likely limit any upside on the day.

Failure to break back through to $8,700 levels could see Bitcoin fall back into the red.

A fall through back through the morning low $8,526.4 would bring the first major support level at $8,122.73 into play.

In the event of another extended sell-off, Bitcoin should steer clear of sub-$8,000 levels.

The Crypto Daily – Movers and Shakers -11/05/20

Bitcoin tumbled by 8.55% on Sunday. Following on from a 2.66% fall on Saturday, Bitcoin ended the week down 2.01% at $8,722.2

A particularly bearish start to the day saw Bitcoin tumble from an intraday high $9,559.0 to a first-hour intraday low $8,101.0.

Bitcoin slid through the day’s major support levels before partially reversing losses from the first hour.

A move back through to $8,900 levels saw Bitcoin break back through the third major support level at $8,761.93.

The partial recovery was short-lived, however. Through the 2nd half of the day, Bitcoin fell back to $8,500 levels before briefly revisiting $8,800 levels.

A final hour pullback saw Bitcoin slip back through the third major support level.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was also a bearish end to the week for the pack.

Bitcoin Cash ABC and Bitcoin Cash SV led the way with losses of 12.08% and 12.65% respectively.

EOS (-11.00%), Ethereum (-10.63%), Litecoin (-10.22%), Stellar’s Lumen (-10.00%), and Tron’s TRX (-10.77%) also saw particularly heavy losses.

Binance Coin (-8.30%), Cardano’s ADA (-7.17%), Monero’s XMR (-7.02%), Ripple’s XRP (-8.68%), and Tezos (-8.95%) saw more modest losses.

For the week ending 10th May, Sunday’s reversal left the majors in the red.

EOS led the way down, with a 13.83% tumble.

Binance Coin (-10.44%), Bitcoin Cash SV (-11.81%), Ethereum (-10.71%), Litecoin (-12.48%), Ripple’s XRP (-10.06%), Stellar’s Lumen (-12.28%), and Tron’s TRX (-10.50%) weren’t far behind.

Bitcoin Cash ABC (-7.01%), Cardano’s ADA (-3.05%), Monero’s XMR (-5.75%), and Tezos (-6.90%) saw more modest losses in the week.

Through the week, the crypto total market cap rose from a Monday low $240.56bn to a Friday week high $271.32bn before Sunday’s meltdown. On Sunday, the total market cap slumped to a week low $230.79bn before support kicked in. At the time of writing, the total market cap stood at $241.12bn.

Bitcoin’s dominance rose from 65% levels to hit 68% levels on Friday before sliding back. At the time of writing, Bitcoin’s dominance stood at 67.0%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Sunday high $209.17bn. At the time of writing, 24-hr volumes stood at $192.66bn.

This Morning

At the time of writing, Bitcoin was up by 0.38% to $8,755.1. A bullish start to the day saw Bitcoin rise from an early morning low $8,721.2 to a high $8,800.

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

Elsewhere, it was also a bullish start to the day. Bitcoin Cash ABC and Monero’s XMR were up by 1.86% and by 1.91% respectively to lead the way.

BTC/USD 11/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through to $8,800 levels to bring the first major resistance level at $9,487.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,000 levels.

Barring a broad-based crypto rally, resistance at $9,000 would likely pin Bitcoin back on the day.

In the event of rebound, the first major resistance level would likely limit any upside on the day.

Failure to break back through to $8,800 levels could see Bitcoin fall back into the deep red.

A fall through back through the morning low $8,721.2 would bring the first major support level at $8,029.13 into play.

In the event of another extended sell-off, the 38.2% FIB of $7,730 could come into play…

Bitcoin’s halving event, expected within the next 24-hours, contributed to the recent volatility. Profit taking ahead of the event led to Sunday’s reversal. It remains to be seen if Bitcoin can avoid a retracement to the March swing lo $4,000. Late support on Sunday and early this morning suggests so, but avoiding sub-$8,000 levels will be key.

The Crypto Daily – Movers and Shakers -10/05/20

Bitcoin slid by 2.66% on Saturday. Following a 1.88% fall on Friday, Bitcoin ended the day at $9,537.8.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $9,900.0 before hitting reverse.

Falling short of the first major resistance level at $9,976.6, Bitcoin slid to a late morning intraday low $9,606.7.

Bitcoin fell through the first major support level at $9,656.6, before briefly revising $9,870 levels.

A bearish end to the day left Bitcoin at sub-$9,600.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Bitcoin Cash ABC and Tezos led the way, with gains of 1.96% and 2.22% respectively. Bitcoin Cash SV and EOS also avoided the red, with gains of 0.15% and 0.03% respectively.

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

Binance Coin and Litecoin led the way down, with losses of 2.10% and 1.66% respectively.

Cardano’s ADA (-1.04%), Litecoin (-1.66%), Monero’s XMR (-0.50%), Ripple’s XRP (-0.97%), Stellar’s Lumen (-0.66%), and Tron’s TRX (-0.43%) also saw red.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Friday high $271.32bn. At the time of writing, the total market cap stood at $239.40bn, with a bearish start to the day seeing the market cap slide to a current week low $238.37bn.

Bitcoin’s dominance rose from 65% levels to hit 68% levels on Friday before easing back. At the time of writing, Bitcoin’s dominance stood at 66.9%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Friday high $205.18bn. At the time of writing, 24-hr volumes stood at $179.11bn.

This Morning

At the time of writing, Bitcoin was down by 9.22% to $8,658.4. Bitcoin tumbled from an early morning high $9,559.0 to a low $8,101.0.

Steering clear of the major resistance levels, Bitcoin slid through the major support levels early on. Recovery from the 1st-hour sell-off saw the third major support level at $8,761.93 pin Bitcoin back.

Elsewhere, it was also a particularly bearish start to the day for the rest of the majors.

Binance Coin (-10.31%), Bitcoin Cash ABC (-11.65%), Bitcoin Cash SV (-10.57%), EOS (-10.44%), and Tron’s TRX (-10.64%) led the way down.

BTC/USD 10/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through the major support levels and through to $9,640 levels to bring the first major resistance level at $9,803.87 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the first major support level at $9,367.87.

Barring a broad-based crypto rebound, resistance at $9,000 would likely pin Bitcoin back on the day.

In the event of rebound, resistance at $9,500 would likely leave Bitcoin short of the first major resistance level at $9,803.87.

Failure to break back through the major support levels will see Bitcoin fall further back into the deep red.

A fall through back through the morning low $8,101.0 would bring sub-$8,000 levels into play.

The Crypto Daily – Movers and Shakers -09/05/20

Bitcoin fell by 1.88% on Friday. Partially reversing a 9.06% rally from Thursday, Bitcoin ended the day at $9,792.4.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $10,025 before hitting reverse.

Falling short of the first major resistance level at $10,340.07 and 62% FIB of $10,034, Bitcoin slid to a mid-morning intraday low $9,705.0.

Steering clear of the first major support level at $9,324.07, Bitcoin bounced back to $10,000 levels before a late slide.

Falling short of the 62% FIB of $10,034, Bitcoin slid back to $9,700 levels to end the day in the red.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the pack on Friday.

Bitcoin Cash ABC rose by 2.71% to lead the way.

Binance Coin (+0.53%), Bitcoin Cash SV (+0.91%), Cardano’s ADA (+1.19%), Litecoin (+0.65%), Stellar’s Lumen (+0.41%), Tezos (+1.14%), and Tron’s TRX (+1.10%) also saw green.

It was a bearish day for the rest, however, with Monero’s XMR sliding by 3.52% to lead the way down.

EOS (-0.64%), Ethereum (-0.43%), and Ripple’s XRP (-0.05%) also joined Bitcoin in the red.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Friday high $271.32bn. At the time of writing, the total market cap stood at $269.10bn.

Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, before the mid-week breakout that delivered 68% levels. At the time of writing, Bitcoin’s dominance stood at 67.5%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Friday high $205.18bn. At the time of writing, 24-hr volumes stood at $168.77bn.

This Morning

At the time of writing, Bitcoin was up by 0.93% to $9,883.6. Bitcoin fell to an early morning low $9,723.3 before striking a high $9,876.6.

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

Elsewhere, it was another bullish start to the day for the rest of the majors.

Binance Coin and Bitcoin Cash ABC led the way early on, with gains of 1.52% and 1.54% respectively.

BTC/USD 09/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,840 levels to bring the first major resistance level at $9,976.6 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,876.6.

Barring a broad-based crypto rally, the first major resistance level would likely leave Bitcoin short of the 62% FIB.

In the event of another breakout, the second major resistance level at $10,160.8 would come into play.

Failure to avoid sub-$9,840 levels could see Bitcoin struggle on the day.

A fall through back through the morning low $9,723.3 would bring the first major support level at $9,656.6 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$9,700 levels.

The Crypto Daily – Movers and Shakers -08/05/20

Bitcoin rallied by 9.06% on Thursday. Following on from a 1.47% gain on Wednesday, Bitcoin ended the day at $9,979.6.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $9,029.0 before making a move.

Steering clear of the first major support level at $8,904.73, Bitcoin rallied to a final hour intraday high $10,045.0.

Bitcoin broke through the first major resistance level at $9,409.13 and the second major resistance level at $9,666.77.

More significantly, Bitcoin tested resistance at the 62% FIB of $10,034 before easing back to sub-$10,000.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day for the pack on Thursday.

Monero’s XMR led the way, rallying by 12.33%.

Bitcoin Cash ABC (+5.59%), Cardano’s ADA (+4.69%), EOS (+4.14%), Ethereum (+6.72%), Litecoin (+5.37%), and Stellar’s Lumen (+4.09%) also found strong support.

Binance Coin (+3.84%), Bitcoin Cash SV (+2.71%), Ripple’s XRP (+3.23%), Tezos (+2.39%), and Tron’s TRX (+3.83%) trailed the front runners.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Thursday high $270.61bn. At the time of writing, the total market cap stood at $269.25bn.

Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, before the mid-week breakout that delivered 68% levels. At the time of writing, Bitcoin’s dominance stood at 67.8%.

24-hour trading volumes fell to a Tuesday current week low $145.07bn before jumping to a Thursday high $195.08bn. At the time of writing, 24-hr volumes stood at $194.91bn.

This Morning

At the time of writing, Bitcoin was down by 0.67% to $9,912.4. A mixed start to the day saw Bitcoin fall to an early morning low $9,857.1 before striking a high $10,025.0.

Bitcoin left the major support and resistance levels and the 62% FIB untested early on.

Elsewhere, it was another bullish start to the day for the rest of the majors.

Cardano’s ADA led the way, rallying by 2.41%, with Bitcoin Cash SV up by 1.93%.

BTC/USD 08/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $10,000 levels to bring the first major resistance level at $10,340.07 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the 62% FIB of $10,034.

Barring a broad-based crypto rally, the 62% FIB would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, $10,500 levels could come into play before any pullback.

Failure to move through to $10,200 levels could see Bitcoin fall deeper into the red.

A fall through back through to sub-$9,685 levels would bring the first major support level at $89,324.07 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer clear of sub-$9,700 levels.

The Crypto Daily – Movers and Shakers -06/05/20

Bitcoin rose by 1.72% on Tuesday. Reversing a 0.40% decline from Monday, Bitcoin ended the day at $9,020.1. It was the first time Bitcoin held onto $9,000 levels since 6th March.

A mixed start to the day saw Bitcoin rally to a mid-morning intraday high $9,124.8 before hitting reverse.

Bitcoin broke through the first major resistance level at $9,046.07 before sliding to a late morning intraday low $8,758.6.

Steering clear of the first major support level at $8,601.27, rebounded through the afternoon to wrap up the day at $9,000 levels.

In spite of the rebound, Bitcoin failed to break back through the first major resistance level.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the pack on Tuesday.

Bitcoin Cash SV joined Bitcoin in the green, with a 1.86% gain, while Cardano’s ADA and EOS ended the day flat.

It was a bearish day for the rest of the majors, with Tron’s TRX sliding by 2.56% to lead the way.

Litecoin (-1.04%), Monero’s XMR (-1.24%), Stellar’s Lumen (-1.89%), and Tezos (-1.12%) weren’t far behind.

Binance Coin (-0.76%), Bitcoin Cash ABC (-0.76%), Ethereum (-0.77%), and Ripple’s XRP (-0.55%) saw relatively modest losses.

Through the start of the week, the crypto total market cap rose from a Monday low $240.56bn to a Tuesday high $252.06bn. At the time of writing, the total market cap stood at $248.97bn.

While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, Tuesday’s trend-bucking move delivered 66% levels. At the time of writing, Bitcoin’s dominance stood at 66.2%.

24-hour trading volumes rose to a Monday high $164.25bn before easing back to a Tuesday current week low $145.07. At the time of writing, 24-hr volumes stood at $146.60bn.

This Morning

At the time of writing, Bitcoin was down by 0.67% to $8,959.4. A bearish start to the day saw Bitcoin fall from an early morning high $9,036.0 to a low $8.913.6.

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

Elsewhere, it was also a bearish start to the day for the rest of the majors.

Bitcoin Cash SV and Monero’s XMR led the way down, with losses of 1.11% and 1.03% respectively.

BTC/USD 06/05/20 Daily Chart

 

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,970 levels to bring the first major resistance level at $9,177.07 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $9,124.8.

Barring a broad-based crypto rebound, resistance at $9,100 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the second major resistance level at $9,334.03 could come into play.

Failure to move through to $8,970 levels could see Bitcoin fall deeper into the red.

A fall through the morning low $8,913.6 would bring the first major support level at $8,810.87 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should well clear of the second major support level at $8,601.63.

The Crypto Daily – Movers and Shakers -04/05/20

Bitcoin fell by 0.92% on Sunday. Partially reversing a 1.81% gain from Saturday, Bitcoin ended the week up by 15.61% to $8,899.8.

A bullish start to the day saw Bitcoin rally to an early morning intraday high $9,198.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $9,072.13 and the second major resistance level at $9,161.97.

The reversal saw Bitcoin slide to a mid-afternoon intraday low $8,738.0 before finding support.

Bitcoin fell through the first major support level at $8,824.33 before briefly rebounding to $8,900 levels late in the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the pack on Sunday.

Bitcoin Cash ABC (-3.75%), Cardano’s ADA (-3.70%), EOS (-3.55%), Monero’s XMR (-3.33%), Stellar’s Lumen (-3.57%), and Tezos (-3.35%) saw heavy losses.

Binance Coin (-2.34%), Bitcoin Cash SV (-2.28%), Ethereum (-1.87%), Litecoin (-2.25%), Ripple’s XRP (-2.00%), and Tron’s TRX (-2.37%) saw relatively modest losses.

It was also a mixed week for the majors, in the week ending 3rd May.

Stellar’s Lumen led the way, rallying by 17.05%, with Ripple’s XRP (+11.69%) and Tron’s TRX (+11.86%) also seeing solid gains.

Bitcoin Cash SV (+5.65%), Cardano’s ADA (+6.76%), Ethereum (+6.29%), and Litecoin (+7.86%) weren’t far behind.

Binance Coin (+4.51%), EOS (+3.58%), and Monero’s XMR (+1.79%) trailed, while Tezos fell by 1.06%.

Through the week, the crypto total market cap rose from a Monday low $220.56bn to a Thursday high $263.29bn. At the time of writing, the total market cap stood at $244.53bn.

Bitcoin’s dominance recovered to 64% levels following a Wednesday breakout before breaking through to 65% levels. At the time of writing, Bitcoin’s dominance stood at 65.9%.

24-hour trading volumes rose from sub-$130bn levels to a Thursday high $253.89bn before sliding back. At the time of writing, 24-hr volumes stood at $158.47bn.

This Morning

At the time of writing, Bitcoin was down by 1.99% to $8,723.0. A mixed start to the day saw Bitcoin rise to an early morning high $8,961.8 before falling to a low $8,631.0.

Steering clear of the major resistance levels, Bitcoin fell through the first major support level at $8,692.53

Elsewhere, it was a bearish start to the day for the majors.

Bitcoin Cash SV (-3.91%), EOS (-3.88%), and Litecoin (-3.30%) led the way down early on.

BTC/USD 04/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,950 levels to bring the first major resistance level at $9,151.53 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,000 levels.

Barring a broad-based crypto rebound, resistance at $9,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the first major resistance level and Sunday’s high $9,198 would likely cap any upside.

Failure to move through to $8,950 levels could see Bitcoin fall deeper into the red.

A fall back through the first major support level would bring $8,500 levels into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should clear of the second major support level at $8,485.27.