Crypto Market Daily Highlights – XRP Five Day Winning Streak Ends

Key Insights:

  • It was a bearish day for the crypto top ten on Saturday, with ripple (XRP) seeing a five-day winning streak end.
  • Friday’s US jobs report continued to resonate, with the threat of a more hawkish Fed weighing on risk appetite.
  • The bearish session led the crypto market cap down $6.3 billion to $901.3 billion for the day.

It was a bearish Saturday session for the crypto top ten. XRP saw a five-day winning streak end, with BTC falling short of $20,000 for the first time in five sessions.

Friday’s US jobs report continued weighing investor appetite. A fall in the US unemployment rate to 3.5% allows the Fed to take a more aggressive path to bring inflation to target.

With a 75-basis point Fed rate hike for November baked in, the markets are looking toward the December move. The FedWatch tool gives a 63.1% probability of the Federal Funds Rate ending the year at 4.5% and a 23.4% chance of ending the year at 4.75%. One week ago, the probability of the Federal Funds Rate rising to 4.75% in December was 0%.

Following the NASDAQ 100’s 3.80% tumble on Friday, we expect the NASDAQ 100 Mini to influence the crypto market in the final hour (UTC) of today’s session. A lack of crypto news leaves the broader crypto market in the hands of the Fed, reflected in the continued crypto correlation with the NASDAQ.

NASDAQ correlation.
Total Market Cap – NASDAQ – 091022 Daily Chart

Crypto Market Falls for a Fourth Consecutive Session

On Saturday, the crypto market rose to an early morning high of $903.3 billion before sliding to a late low of $898.3 billion. However, a late partial recovery left the crypto market down $6.6 billion to $901.3 billion for the day.

The fourth consecutive daily loss left the crypto market cap up by $17 billion (+1.92%), Monday to Saturday.

Crypto market extends losing streak.
Total Market Cap 091022 Daily Chart

The Crypto Market Movers and Shakers from the Top Ten and Beyond

It was a bearish Saturday session for the crypto top ten.

BNB led the way down, falling by -2.09%, with DOGE (-1.17%), ETH (-1.16%), and SOL (-1.18%) close behind.

However, ADA (-0.47%), BTC (-0.59%), and XRP (-0.18%) saw modest losses.

From the CoinMarketCap top 100, it was a mixed session.

Quant (QNT) led the way, rallying by 7.24%, with bitcoin SV (BSV) and stellar’s lumen (XLM) seeing gains of 2.61% and 3.13%, respectively.

However, reserve rights (RSR) led the way down, sliding by 10.55%, with helium (HNT) and ecash (XEC) seeing losses of 5.08% and 9.05%, respectively.

24-Hour Crypto Liquidations Slide Despite Bearish Crypto Session

Over 24 hours, total liquidations hit reverse, despite the bearish Saturday and bearish start to the Sunday session. At the time of writing, 24-hour liquidations stood at $32.09 million, down from $82.53 million on Saturday morning.

Liquidated traders over the last 24 hours also fell. At the time of writing, liquidated traders stood at 12,467 versus 23,689 on Saturday morning. Liquidations were down over one, four, and 12 hours.

Crypto market liquidations decline.
Total Crypto Liquidations 091022

According to Coinglass, 12-hour liquidations were down from $72.50 million to $27.06 million, with four-hour liquidations down from $3.70 million to $2.69 million. One-hour liquidations fell from $0.482 million to $0.202 million, which remains well below normal levels.

The chart below shows market conditions throughout the session.

Crypto market finds late Saturday support.
Total Market Cap 091022 Hourly Chart

Crypto Price Analysis July 6: CRV, SAND, LRC, BSV, FLOW

Key Insights:

  • Curve DAO Token is leading the rally with a 10.23% rise today.
  • Loopring is taking charge of the bears, albeit with a 5% decline.
  • Bitcoin and Ethereum continue to trade at $20k and $1.1k, respectively.

The crypto market has seemingly entered consolidation, barely moving over the past 48 hours.

With the entire crypto market’s value still struggling at $885 billion, it does not seem like Bitcoin and Ethereum will be able to kickstart a rally at the moment.

Curve DAO Token (CRV)

CRV has been performing exceptionally well this week, noting a 39.19% growth in the past couple of days. This rally will be crucial in not only recovering the 54.77% losses of June but also in pushing the altcoin above $1 again.

Additionally, the 9.54% rise in the last 24 hours will turn the Awesome Oscillator into absolutely bullish, further supporting recovery.

The Sandbox (SAND)

The Metaverse token made a quick recovery from the June crash when it shot up by 60.35%, and it rallied once again over the last three days marking a 20% rise. This brought SAND’s trading price above $1.25.

Going forward, the possibility of a price rise remains open since the separated Bolling Bands indicate an uptrend as the candlesticks remain above the bias.

Loopring (LRC)

LRC has been oscillating around the $0.4 mark for almost a month now despite declining by 13.89% recently as the altcoin recovered by 8.21%.

The Chaikin Money Flow, on the other hand, clearly exhibits that investors have been optimistic with LRC as inflows have been gradually increasing over time.

Bitcoin SV (BSV)

The Bitcoin namesake and hard fork has been trending opposite to the broader market trend noting a 16.22% decline after a 38.02% rise.

Trading at $53.92, the asset flipped the support of the 50-day Moving Average into resistance which may not necessarily be a good sign for BSV since it closed in red today.

Flow (FLOW)

The Dapper Labs creation has been on a downtrend for the past ten days, only further declining after the 53.23% crash of June.

To make things worse, FLOW has been stuck in the bearish zone for about three months now, with no clear indication of recovery as visible from the Relative Strength Index (RSI).

Crypto Price Analysis July 1: AR, CRV, COMP, BAT, BSV

Key Insights:

  • Arweave reigned among the rallying altcoins.
  • Bitcoin SV was one of the few who sank yesterday.
  • Bitcoin and Ethereum fell further, with BTC standing at $19.3k and ETH at $1.06k.

The crypto market is back in its favorite zone, the bearish zone, after declining considerably and losing billions in the last few days. The king coin, Bitcoin, and the altcoin king did not make any sharp movement and left the altcoins at the helm.

Arweave (AR)

The altcoin was one of the best-performing assets of the day as it rose by more than 14% in 24 hours. This helped the asset invalidate the dip from the days before and put AR back on track to invalidate June’s 43.5% crash.

The crypto has the support of the investors as well since the Awesome Oscillator is highlighting rising bullishness.

Curve DAO token (CRV)

DeFi token CRV had a somewhat better day than many other cryptocurrencies as it closed the candle on an almost 15% rally. Trading at $0.79, CRV is much closer to invalidating the last week’s crash of 18.42%

The Bollinger Bands indicate volatility is at bay and CRV is safe from price swings, and with the bias acting as support, the price action will only go up.

Compound (COMP)

Compound’s performance has been very unlike the other altcoins as after crashing by 51.78%, the crypto marked a 91.57% rally and declined once again this week by 13.14%

However, as investors prepare for a long-term rise, the asset continued observing inflows, as noticed on the Chaikin Money Flow (CMF).

Basic Attention Token (BAT)

As with the rest of the market, BAT too did well, marking a 10.69% growth within 48 hours the 52.47% rise noted right after the crash made BAT one of the first and only coins to invalidate the June crash completely.

Regardless things are going to bearish for a while as the MACD is indicating such cues.

Bitcoin SV (BSV)

While BAT was one of the first to invalidate the rise, BSV is the first one to break through and still fall back down. The 19.22% drop has almost invalidated the 36.84% rise observed over ten days.

The fall also brought BSV back into the bearish zone on the Relative Strength Index (RSI), and to climb back out of this, BSV will need support from the broader market.

Crypto Market Daily Highlights – June 14 – BTC and ETH See Red

Key Insights:

  • Crypto market conditions calmed on Tuesday, with the broader market ending extended losing streaks.
  • Ethereum (ETH) bucked the trend, falling for an eighth consecutive day, with bitcoin (BTC) also seeing red.
  • The choppy session saw the total crypto market cap fall by $69 billion to a new current-year low of $858.7bn before late support kicked in.

It was a mixed session for the crypto market on Tuesday. While the broader crypto market ended an extended losing streak, the bitcoin (BTC) fell for an eighth consecutive day.

The eighth day in the red saw bitcoin fall to a new current-year low of $20,838 before a partial recovery to $22,000. Bitcoin last stood at sub-$21,000 in December 2020.

Helium (HNT) was a front runner, while Monero (XMR) and Tron (TRX) saw heavy losses.

Dip buyers delivered much-needed support ahead of the Fed’s monetary policy decision on Wednesday, which has weighed on the crypto market.

Crypto Market Cap Slides to sub-$900 Billion

Following Monday’s $130.6 billion wipeout, the total crypto market cap fell by just $3.6 billion on Tuesday.

Significantly, however, the market cap fell to a new current-year low of $858.6 billion before returning to $900 billion. Tuesday’s decline marked the eighth consecutive daily fall.

Crypto market cap falls again.
Total Market Cap Daily Chart 150622

For June alone, the total crypto market cap is currently down $379 billion, following a $380 billion tumble in May and a $375 billion slump in April.

While the crypto market found support on Tuesday, downside risks remain as the market looks ahead to the Fed monetary policy decision on Wednesday.

The markets have priced in a 50 basis point rate hike. A hike in line with expectations would leave investors to focus on the Fed’s inflation, GDP, and interest rate projections.

Investor fear of a more aggressive rate path trajectory has hit riskier assets. An upward revision to the March projections will likely further test the appetite for riskier assets.

Other market considerations include plans to roll out more stringent regulatory measures and the stability of stablecoins.

On Tuesday, TRX came under selling pressure as investors reacted to algorithmic stablecoin USDD losing its dollar peg. TRX slumped by 12.9% on Tuesday, following a 16.1% slide on Monday.

From the top ten cryptos, ADA (+3.88%), SOL (+3.46%), and XRP (+3.41%) led the way.

BNB (+0.09%) and DOGE (+2.69%) also found support.

BTC slid by a further 1.58% to lead the way down, however, with ETH ending the day with a 0.02% loss to buck the broader market trend.

From the CoinMarketCap top 100, Monero (XMR) joined TRX in the deep red, with a loss of 10.83%.

Total Crypto Liquidations Eased but Remained Elevated

Following Tuesday’s spike, total liquidations eased going into the Wednesday session.

According to Coinglass, 24-hour liquidations stood at $578 million, down from $1,070 million levels on the day prior. While down from Tuesday levels, however, 24-hour liquidation levels remained elevated.

Crypto liquidations ease.
Total Crypto Liquidations 150622

One-hour liquidations pointed to a steadying in market cap conditions, with one-hour liquidations at $7.7 million.

Crypto Daily News Highlights

  • Bank of England Governor Andrew Bailey took another swipe at the crypto market.
  • Crypto investors prep for the Fed monetary policy decision and projections.
  • Tron (TRX) took a hit in response to algorithmic stablecoin USDD losing its dollar peg.
  • Ripple general counsel Stuart Alderoty took aim at the SEC over a muddied regulatory environment.
  • BlockFi was fined $943,000 for failing to register securities in the State of Iowa.
  • While the crypto winter takes its toll on crypto platforms, Ripple Labs, Binance, and Tron announced upbeat plans.
  • CEO and co-founder of Terraform Labs Do Kwon denied cashing out $2.7 billion.

Monero Dips by 14.4% As Bitcoin SV’s 17.8% Rise Leads Altcoin Recovery

Key Insights:

  • Bitcoin SV rallied the highest among all altcoins, with an almost 37.4% rise.
  • Monero led the down-trending cryptos losing almost 11% in 24 hours.
  • On the other hand, the leaders of cryptocurrencies, Bitcoin and Ethereum, remained consolidated.

Most of the investors were expecting green candles across the board on the charts today, however, the crypto market did not lean in their favor.

While a couple of cryptocurrencies marked significant rises, most others continued declining.

Monero Becomes the King

Well, not the kind one would want, but for the last 24 hours, XMR has been leading the altcoins that stuck to the week-long bearish sentiment and depreciated further.

At the time of writing, XMR was trading at $120.39, 11% below the close from the day before. 

In the span of mere four days, the altcoin has plunged by 35.47% from the mark of $183. The coin, which had almost recovered from the crash of May 9, managed to test the 50-day Simple Moving Average as resistance and was on the verge of breaching it.

Doing so would’ve allowed it to turn the SMA into support, maintaining the $200 price point.

However, as the market crashed, the price indicators supporting the rise also switched their directions.

MACD exhibited a bearish crossover just as XMR began declining, and at the time of writing, the bearishness on the indicator is diminishing any chances of recovery.

This could result in the coin further decreasing unless the broader market sentiment turns bullish in the next few hours.

Bitcoin SV, on the Other End of the Spectrum

The Bitcoin namesake and hard fork of the king coin’s hard fork, Bitcoin SV, surprisingly managed to prevent excessive damage during the crash.

The altcoin only noted depreciation for 48 hours as it countered the bearishness over the week, declining by merely 18.65%.

At the same time, in the last 24 hours, it almost not only recovered from the entire downfall but also rallied further ahead. With a 37.44% rally, BSV hit the monthly highs of $63.88 before coming back down to close at $51.28.

This single-day rise triggered an uptrend for the altcoin, which is evident in the Parabolic SAR’s white dots’ position underneath the candlesticks.

Furthermore, the Relative Strength Index (RSI) recovered from falling deeper into the bearish zone by sitting closer to the neutral zone.

Thus if the bearishness does impact BSV’s price action, it would still be far away from slipping into the oversold zone.

Crypto Market Daily Highlights – June 10 – ADA, BNB, GMT, and MATIC

Key Insights:

  • It was a bearish Friday, with the broader crypto market declining for a fourth consecutive day.
  • US inflation figures for May sent the crypto majors into freefall after inflation hit another 40-year high.
  • Among the top ten, Binance Coin (BNB) faired better than most, falling by just 1.0%.

After a mixed Thursday session, the crypto market recoupled with the NASDAQ 100 to see deep red.

Cardano (ADA) reversed Vasil hard fork-driven gains from earlier in the week.

US inflation figures for May did the damage on Friday. The NASDAQ 100 tumbled by 3.52% in response to US inflation hitting a new 40-year high.

In May, the US annual rate of inflation accelerated from 8.3% to 8.6%. A modest decline in crude oil prices provided little comfort at the end of the week.

While the inverse correlation between bitcoin (BTC) and WTI Crude weakened, the correlation with the NASDAQ 100 strengthened on Friday. The correlation reflected investor sentiment towards inflation and Fed monetary policy ahead of next week’s FOMC meeting.

BTC correlation with the NASDAQ strengthens.
NASDAQ BTC WTI 110622 5 Minute Chart

Crypto Market Cap Gives Up $60 Billion Before Steadying

After having avoided sub-$2,000 billion for a second consecutive day, the total crypto market cap slumped to a day low of $1,157 billion on Friday.

A $58 billion tumble came in response to the US inflation figures. A modest recovery to $1,16 billion levels was of little consolation late in the day.

From the top ten cryptos, ADA slid by 9.2%. BNB faired the best among the top ten, falling by just 1.2%.

BTC (-3.4%), DOGE (-5.0%), ETH (-7.1%), and XRP (-4.7%) all reacted to the inflation numbers.

From the top 100, Chainlink (LINK) was among the worst performers, tumbling by 13.3%.

MATIC (-6.3%) and GMT (-8.5%) also saw heavy losses alongside the broader market.

Several cryptos bucked the trend on Friday.

UNUS SED LEO (LEO) (+1.5%), Bitcoin SV (BSV) (+3.1%), and Huobi Token (HT) (+1.0%) found support.

Total Crypto Liquidations Spiked on Friday

Total liquidations spiked on Friday, as the broader market reacted to the latest US inflation numbers.

According to Coinglass, 24-hour liquidations stood at $298.31 million, up from $103.50 million on Thursday. More significantly, liquidations over 12 hours stood at $239.70 million, taking 24-hour liquidations to levels seen last week.

1-hour liquidations suggested a steadying in market conditions.

At the time of writing, total liquidations over one hour stood at $8.35 million.

Crypto liquid spike after US inflation numbers.
Total Crypto Liquidations 110622

Crypto Daily News Highlights

  • The SEC is investigating Terraform and founder Do Kwan.
  • Following news of the Lummis and Gillibrand bill, the CFTC and the SEC will battle it out for oversight of digital currencies.
  • Bloomberg expanded the Bloomberg Terminal coverage to include 50 cryptocurrencies.
  • In the SEC v Ripple case, a court ruling went against the SEC ahead of a major court ruling next week.
  • Global bitcoin (BTC) adoption could be up by a further 10% by 2030.

Robinhood Releases Crypto Wallets to Two Million Waitlisted Users

Key Insights:

  • Robinhood took a bigger leap into the crypto market this week, issuing crypto wallets to 2m waitlisted users.
  • In January, Robinhood made crypto wallets available to just 1,000.
  • The wallet release will see increased crypto activity and likely greater regulatory scrutiny.

At the end of December, Robinhood announced the planned launch of the Beta crypto wallet for Q1 2022.

Robinhood started by supporting the deposit and withdrawal of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

Having seen user numbers surge to more than 20 million by 2021, Robinhood is taking aim at the market share of the major crypto exchanges, including Binance and Coinbase.

In January, Robinhood initially released its beta version to 1,000 waitlisted users.

Robinhood Releases Crypto Wallets to Two Million Waitlisted Users

This week, Robinhood released crypto wallets to all eligible persons on the WenWallets waitlist of more than two million.

Robinhood’s Chief Product Officer, Aparna Chennapragada, announced the news at the Bitcoin 2022 Conference underway in Miami.

Taking to Twitter, Chennapragada tweeted,

“Super pumped to announce on the #Bitcoin2022 stage that @RobinhoodApp has rolled out wallets access to the nearly 2 million people on the WenWallets waitlist.”

According to the tweet, there were some restrictions. Users in Hawaii, New York, and Nevada are unable to access crypto wallets due to local regulations.

Chennapragada added,

“We are also working to add the ability to transact on the Bitcoin Lightning Network, so customers can send & receive BTC in seconds, for pennies instead of dollars.”

At the time of writing, Robinhood supports the buying, selling, and real-time market data for Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).

Robinhood Could Face Increased Regulatory Scrutiny

The news is positive for the crypto market, with Robinhood offering a competitive alternative to established crypto exchanges.

Regulatory scrutiny has been on the rise since the rollout of the beta version. With the U.S government, the SEC, and other agencies looking to ramp up crypto oversight, Robinhood will need to navigate the regulatory quagmire.

To compete with Binance, Coinbase, and others, Robinhood will also need to increase its crypto offering from 7 cryptos.

Monero Under a ‘51% Attack’ Threat by Mining Pool MineXMR

In an alarming development, members of the Monero community brought to light a single mempool that is reaching closer to holding serious domination over the entire network.

While the Monero team has not provided any update yet despite the community actively posting about it, this is how the phenomenon could affect the entire network.

Monero MineXMR Pool

The mining pool known as MineXMR is the topmost pool in the Monero miners community which collectively has over 12,851 miners generating 1.5 million kH/s. The amount of Hash Rate produced by them alone accounts for 44.2% of all Hash Rate.

Monero mining pool MineXMR has a 44% dominance over the Hash Rate | Source: Pools.XMR.wiki

Now the reason why this is alarming is that it is never good for any single miner or pool to gain more than 51% dominance in the Hash Rate as it makes the entire network vulnerable to a 51% attack.

A 51% attack is considered to be one of the biggest threats to a network in the crypto space because when a single entity holds such dominance, they also hold significant power in the decision-making as well as the validation of transactions.

The immutability of blockchain technology falls under risk in such a case.

In the case of Monero specifically, this could cause significant chaos amongst the investors. As it is the network has been witnessing reduced activity from its users.

Transaction activity has come down by 51% from its peak of 40k to just 19k at the moment.

Monero transaction count is down by 51% | Source: CoinMetrics

To add further fuel to the fire, the volatility has been rising at a rapid rate standing at a 5 month high. This has led to the returns on investment dropping to a staggering negative 27.08.

Monero ROI is at negative 27.08 | Source: CoinMetrics

Consequently, this could lead to investors backing out and the price falling further. XMR is already 64% below its all-time high of $484, trading at $177

Other 51% Attacks

Last year in august, Bitcoin hard fork Bitcoin SV (BSV) suffered a 51% attack after which the coin lost 5% of its value. 2 years before that another Bitcoin hard fork Bitcoin Gold went through a similar attack. 

Ethereum’s hardfork Ethereum Classic too was a victim of a 51% attack not once or twice but three times in the same month in 2020. The first attack hit on August 1, the second occurred on August 6 followed by the third attack on August 29.

Although neither of these three coins suffered fatal losses, it still doesn’t take away from the fact that such situations are not good for a network.

Robinhood Crypto Wallet Beta Program Goes Live

Since late last year, there’s been plenty of news on Robinhood and its crypto plans.

At the end of December, news had hit the wires of Robinhood launching a beta version of its wallet in 2022. Robinhood had reportedly first announced testing its digital wallet feature back in September. The expansion into the crypto space was set to start with enabling the deposit and withdrawals of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

Amidst increasing crypto regulatory scrutiny, Robinhood aims to take the battle to crypto exchanges. According to Statista, Robinhood has seen its number of users surge from just 500,000 in 2014 to more than 20 million in 2021. By contrast, the world’s largest crypto exchange Binance (based on 24-hour volume) has an estimated user base of 28.6m as at October 2021.

Robinhood Officially Launches Crypto Wallet

On Thursday, Robinhood announced the release of its digital wallet beta program. Initially, the wallet will be available to just 1,000 waitlisted customers. The platform expects the program to extend to 10,000 waitlisted customers by March.

The wallet will allow customers to send and receive their crypto from Robinhood to external crypto wallets. Having only previously supported the buying and selling of cryptos, Robinhood crypto holders can fully connect to the greater blockchain ecosystem for the very first time.

Key features of the wallet beta program include:

  • Daily withdrawal limit of $2,999.
  • 10 transactions per day.
  • Two-factor authentication.

During the Beta program, Robinhood also intends to:

  • Add QR scanning.
  • Improve the transaction history interface.
  • Add block explorer support.
  • Additionally, users will be able to “calculate the Dollar amount of crypto to send/receive in terms of Dollar amounts”.

At the time of writing, Robinhood supports the buying and selling of 7 cryptos. These are Bitcoin SV (BSV), Bitcoin Cash (BCH), Bitcoin (BTC), Dogecoin (DOGE), Litecoin (LTC), Ethereum Classic (ETC), and Ethereum (ETH).

Robinhood’s Launch Coincides with Increased Regulatory Scrutiny

The heavily anticipated launch of the wallet beta program comes at a tricky time for the crypto market. Since late last year, regulatory chatter and activity has been on the rise, which has tested support for cryptos.

Just this week, news hit the wires of SEC Chair Gary Gensler warning of a crackdown on digital assets this year. The SEC Chair talked of more direct regulation of crypto trading platforms in the coming months. Gensler’s warning follows recent calls from the Bank of England, the IMF, and India’s Prime Minister for a global framework to regulate cryptos.

Breaking down Resistance at $48,500 Remains Key for the Bitcoin (BTC) Bulls

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers. Please see the end of the article for a full video tech analysis including a look at the EMAs.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, fell by 0.35% on Sunday. Partially reversing a 1.54% gain from Saturday, Bitcoin ended the week down by 6.81% to $46,704.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $46,458. Steering clear of the first major support level at $45,770 Bitcoin rallied to an early afternoon intraday high $48,364. Bitcoin broke through the first major resistance level at $47,730 before sliding back to sub-$47,000 levels and into the red.

The near-term bullish trend remained intact, in spite of the most recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Litecoin rose by 3.07% to lead the way, with Cardano’s ADA (+0.08%) and Ripple’s XRP (+0.72%) also bucking the trend on the day.

It was a bearish end to the week for the rest of the majors, however.

Chainlink slid by 3.52% to lead the way down, with Bitcoin Cash SV (-2.85%), Crypto.com Coin (-1.75%), and Polkadot (-2.44%) also struggling.

Binance Coin (-0.82%) and Ethereum (-0.91%) saw relatively modest losses, however.

In week, the crypto total market fell to a Monday low $2,054bn before rising to a Thursday high $2,303bn. At the time of writing, the total market cap stood at $2,179bn.

Bitcoin’s dominance rose to a Tuesday high 42.25% before falling to a Saturday low 40.21%. At the time of writing, Bitcoin’s dominance stood at 40.39%.

This Morning

At the time of writing, Bitcoin was down by 0.22% to $46,599. A mixed start to the day saw Bitcoin rise to an early morning high $46,791 before falling to a low $46,245.

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

BTCUSD 201221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV was up by 0.22% to avoid the red early on.

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

At the time of writing, Crypto.com Coin was down by 1.99% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $47,175 pivot to bring the first major resistance level at $47,893 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $47,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $48,500 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,081. Bitcoin would need plenty of support, however, to breakout from Sunday’s high $48,364 and $48,500 levels.

Failure to move through the $47,175 pivot would bring the first major support level at $45,987 into play. Barring an extended sell-off on the day, however, Bitcoin should steer clear of sub-$45,000 levels. The second major support level at $45,269 should limit the downside.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

 

Bitcoin (BTC) Finds Support though Indicators Suggest It May be Temporary

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers. Please see the end of the article for a full video tech analysis including a look at the EMAs.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, rose by 1.54% on Saturday. Partially reversing a 3.10% slide from Friday, Bitcoin ended the day at $46,873.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $45,523. Steering clear of the first major support level at $45,134 Bitcoin rallied to a late morning intraday high $47,483. Falling short of the first major resistance level at $46,633, however, Bitcoin fell back to sub-$46,500 levels before finding support.

The near-term bullish trend remained intact, in spite of the most recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish session.

Chainlink rallied by 6.87% to lead the way, with Litecoin (+3.31%) and Ripple’s XRP (+3.74%) also finding strong support.

Binance Coin (+1.58%), Bitcoin Cash SV (+1.34%), Cardano’s ADA (+1.97%), Crypto.com Coin (+1.22%), Ethereum (+2.21%), and Polkadot (+1.89%) trailed the front runnners, however.

In the current week, the crypto total market fell to a Monday low $2,054bn before rising to a Thursday high $2,303bn. At the time of writing, the total market cap stood at $2,194bn.

Bitcoin’s dominance rose to a Tuesday high 42.25% before falling to a Saturday low 40.22%. At the time of writing, Bitcoin’s dominance stood at 40.33%.

This Morning

At the time of writing, Bitcoin was down by 0.05% to $46,848. A mixed start to the day saw Bitcoin rise to an early morning high $46,920 before falling to a low $46,783.

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

BTCUSD 191221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+0.08%) and Litecoin (+0.05%) avoided the red early on.

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

At the time of writing, Crypto.com Coin was down by 1.34% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $46,626 pivot to bring the first major resistance level at $47,730 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $47,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $48,000 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $48,586.

A fall through the $46,626 pivot would bring the first major support level at $45,770 into play. Barring an extended sell-off on the day, however, Bitcoin should steer clear of  sub-$44,000 levels. The second major support level at $44,666 and the 38.2% FIB of $44,144 and should limit the downside.

Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) Faces sub-$45,000 Levels as Losses Mount

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, fell by 3.10% on Friday. Following a 2.53% loss on Thursday, Bitcoin ended the day at $46,180.7.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $48,038 before hitting reverse. Falling short of the first major resistance level at $48,916, Bitcoin slid to an early afternoon intraday low $45,539.

Bitcoin fell through the first major support level at $46,979 and the second major support level at $46,292. Steering clear of sub-$45,000 levels, however, Bitcoin revisited $47,600 levels before falling back into the deep red. The pullback saw Bitcoin fall back through the first major support level and the second major support level to end the day at sub-$46,200 levels.

The near-term bullish trend remained intact, in spite of the recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Bitcoin Cash SV rose by 2.23% to buck the trend on the day.

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

Crypto.com Coin slid by 6.35% to lead the way down.

Chainlink (-2.49%), Cardano’s ADA (-1.69%), Ethereum (-2.05%), Litecoin (-3.18%), and Polkadot (-2.25%) also struggled.

Binance Coin (-0.04%) and Ripple’s XRP (-0.91%) saw relatively modest losses, however.

In the current week, the crypto total market fell to a Monday low $2,054bn before rising to a Thursday high $2,303bn. At the time of writing, the total market cap stood at $2,131bn.

Bitcoin’s dominance rose to a Tuesday high 42.24% before falling to a Thursday and Friday low 40.60%. At the time of writing, Bitcoin’s dominance stood at 40.74%.

This Morning

At the time of writing, Bitcoin was down by 0.53% to $45,934. A mixed start to the day saw Bitcoin rise to an early morning high $46,278 before falling to a low $45,806.

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

BTCUSD 181221 Hourly Chart

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.76% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $46,586 pivot to bring the first major resistance level at $47,633 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $47,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $48,038 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $50,000 levels before any pullback. The second major resistance level sits at $49,085.

Failure to move through the $46,586 pivot would bring the first major support level at $45,134 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of  sub-$44,000 levels. The 38.2% FIB of $44,144 and the the second major support level at $44,087 should limit the downside.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

A Bitcoin (BTC) Move back Through $48,500 Would Bring the Elusive $50,000 into Play

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, fell by 2.53% on Thursday. Reversing a 1.05% gain from Wednesday, Bitcoin ended the day at $47,665.

After a mixed start to the day, Bitcoin rose to a late morning intraday high $49,480 before hitting reverse. Falling short of the first major resistance level at $50,081, Bitcoin slid to a late intraday low $47,543.

Steering clear of the first major support level at $47,161, however, Bitcoin revisited $48,000 levels before easing back.

The near-term bullish trend remained intact, in spite of the recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Crypto.com Coin rallied by 8.95% to buck the trend on the day.

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

Cardano’s ADA slid by 5.49% to lead the way down, with Bitcoin Cash SV (-3.80%), Chainlink (-4.80%), and Litecoin (-3.14%) also struggling.

Binance Coin (-2.81%), Ethereum (-1.59%), Polkadot (-1.71%), and Ripple’s XRP (-2.62%) saw relatively modest losses, however.

In the current week, the crypto total market fell to a Monday low $2,049bn before rising to a Thursday high $2,304bn. At the time of writing, the total market cap stood at $2,204bn.

Bitcoin’s dominance rose to a Wednesday high 42.27% before falling to a Thursday low 40.58%. At the time of writing, Bitcoin’s dominance stood at 41.01%.

This Morning

At the time of writing, Bitcoin was up by 0.37% to $47,841. A mixed start to the day saw Bitcoin fall to an early morning low $47,440 before rising to a high $47,920.

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

BTCUSD 171221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Crypto.com Coin and Polkadot were down by 3.66% and by 0.24% respectively to buck the early trend.

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

At the time of writing, Cardano’s ADA was up by 0.56% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $48,229 pivot to bring the first major resistance level at $48,916 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $48,500 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $49,480 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $52,000 levels before any pullback. The second major resistance level sits at $50,166.

Failure to move through the $48,229 pivot would bring the first major support level at $46,979 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level at $46,292 should limit the downside.

Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) Bulls Target $53,000 Levels as Risk Appetite Returns

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, rose by 1.05% on Wednesday. Following a 3.51% rally on Tuesday, Bitcoin ended the day at $48,901.

After a mixed morning, Bitcoin fell to an early afternoon intraday low $46,600 before making a move. Steering clear of the first major support level at $46,942, Bitcoin rallied to a late intraday high $49,520.

Bitcoin broke through the first major resistance level at $49,270 before easing back to end the day at $48,900 levels.

The near-term bullish trend remained intact, in spite of the recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Crypto.com Coin fell by 3.20% to buck the trend on the day.

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

Chainlink rallied by 6.71% to lead the way, with Cardano’s ADA (+3.59%) and Ethereum (+4.17%) finding strong support.

Binance Coin (+2.42%), Bitcoin Cash SV (+0.90%), Litecoin (+2.13%), Polkadot (+2.75%), and Ripple’s XRP (+2.14%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $2,297bn before falling to a Monday low $2,049bn. At the time of writing, the total market cap stood at $2,250bn.

Bitcoin’s dominance rose to a Wednesday high 42.27% before falling to a Wednesday low 40.88%. At the time of writing, Bitcoin’s dominance stood at 41.18%.

This Morning

At the time of writing, Bitcoin was up by 0.14% to $48,968. A mixed start to the day saw Bitcoin fall to an early morning low $48,786 before rising to a high $48,985.

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

BTCUSD 161221 Hourly Chart

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 7.84% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $48,340 pivot to bring the first major resistance level at $50,081 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $49,520.

Barring an extended crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at the 23.6% FIB of $53,628 before any pullback. The second major resistance level sits at $51,260.

A fall through the $48,340 pivot would bring the first major support level at $47,161 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level sits at $45,420.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) Eyes a Return to $50,000 after Tuesday’s Gain

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, rose by 3.51% on Tuesday. Partially reversing a 6.72% slide from Monday, Bitcoin ended the day at $48,399.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $46,356 before making a move. Steering clear of the first major support level at $44,947, Bitcoin rallied to a late intraday high $48,684.

Falling short of the first major resistance level at $49,393, however, Bitcoin eased back to end the day at sub-$48,500 levels.

The near-term bullish trend remained intact, in spite of the recent pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Crypto.com Coin and Polkadot bucked the trend on the day, falling by 1.35% and by 2.70% respectively.

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

Litecoin led the way, rising by 4.04%.

Cardano’s ADA (+3.59%), Chainlink (+3.78%), and Ripple’s XRP (+3.76%) also found strong support.

Binance Coin (+1.44%), Bitcoin Cash SV (+1.02%), and Ethereum (+2.03%) trailed the front runners, however.

Early in the week, the crypto total market rose to a Monday high $2,297bn before falling to a Monday low $2,049bn. At the time of writing, the total market cap stood at $2,185bn.

Bitcoin’s dominance fell to a Monday low 41.33% before rising to a Tuesday high 42.25%. At the time of writing, Bitcoin’s dominance stood at 41.85%.

This Morning

At the time of writing, Bitcoin was down by 0.02% to $48,391. A mixed start to the day saw Bitcoin rise to an early morning high $48,400 before falling to a low $48,282.

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

BTCUSD 151221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.02%), Chainlink (-0.12%), and Ripple’s XRP (-0.33%) joined Bitcoin (BTC) in the red.

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

At the time of writing, Crypto.com Coin was up by 2.45% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $47,813 pivot to bring the first major resistance level at $49,270 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Tuesday’s high $48,684.

Barring an extended crypto rally, the first major resistance level and resistance at $50,000 would likely cap the upside. In the event of an extended rally, Bitcoin could test resistance at $52,000 before any pullback. The second major resistance level sits at $50,141.

A fall through the $47,813 pivot would bring the first major support level at $46,942 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels. The second major support level at $45,485 should limit the downside.

Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) – A Move back Through to $48,500 Would Support a Return to $50,000

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, slid by 6.72% on Monday. Reversing a 1.41% rise from Sunday, Bitcoin ended the day at $46,749.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $50,234 before hitting reverse. Falling short of the first major resistance level at $51,052, Bitcoin slid to a late intraday low $45,788.

The extended sell-off saw Bitcoin fall through the first major support level at $48,942 and the second major support level at $47,761. Steering clear of the third major support level at $45,651, however, Bitcoin moved revisited $47,000 levels before easing back.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish session.

Chainlink slumped by 12.97% to lead the way down, with Binance Coin (-8.72%), Cardano’s ADA (-9.13%), Crypto.com Coin (-8.81%), Ethereum (-8.45%), and Litecoin (-9.07%) also deep in the red.

Bitcoin Cash SV (-6.45%), Polkadot (-5.81%), and Ripple’s XRP (-6.92%) saw relatively modest losses, however.

Early in the week, the crypto total market rose to a Monday high $2,284bn before falling to a Monday low $2,061bn. At the time of writing, the total market cap stood at $2,099bn.

Bitcoin’s dominance fell to a Monday low 41.52% before rising to a Monday high 42.06%. At the time of writing, Bitcoin’s dominance stood at 41.86%.

This Morning

At the time of writing, Bitcoin was down by 0.66% to $46,438. A mixed start to the day saw Bitcoin rise to an early morning high $46,839 before falling to a low $46,438.

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

BTCUSD 141221 Hourly Chart

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 2.43% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $47,590 pivot to bring the first major resistance level at $49,393 into play. Support from the broader market would be needed, however, for Bitcoin to breakout from $48,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $50,000 would likely cap the upside. In the event of an extended rally, Bitcoin could test the 23.6% FIB $53,628 before any pullback. The second major resistance level sits at $52,036.

Failure to move through the $47,590 pivot would bring the first major support level at $44,947 and the 38.2% FIB of $44,144 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $43,144.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) – Bears Test Support Early. A Move Back Through to $50,000 Needed to Support a Breakout

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, rose by 1.41% on Sunday. Following a 4.73% rally on Saturday, Bitcoin ended the week up by 1.31% to $50,123.

A mixed start to the day saw Bitcoin fall to a late morning intraday low $48,690 before making a move. Steering clear of the first major support level at $47,691, Bitcoin rose to a late afternoon intraday high $50,800.

Bitcoin broke through the first major resistance level at $50,341 before falling back to sub-$50,000 levels. Finding late support, however, Bitcoin wrapped up the day at sub-$50,200 levels. The first major resistance level pinned Bitcoin back late in the day.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed session.

Bitcoin Cash SV fell by 2.84%, with Cardano’s ADA (-0.52%) also seeing red to buck the trend on the day.

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

Polkadot rallied by 4.87% to lead the way, with Chainlink (+2.46%) and Crypto.com Coin (+3.46%) also finding strong support.

Binance Coin (+1.13%), Ethereum (+1.02%), Litecoin (+0.59%), and Ripple’s XRP (+0.37%) trailed the front runners, however.

In the week, the crypto total market rose to a Tuesday high $2,417bn before falling to a Saturday low $2,116bn. At the time of writing, the total market cap stood at $2,224.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Thursday low 39.95%. At the time of writing, Bitcoin’s dominance stood at 41.63%.

This Morning

At the time of writing, Bitcoin was down by 2.02% to $49,109. A mixed start to the day saw Bitcoin rise to an early morning high $50,234 before falling to a low $48,875.

Bitcoin tested the first major support level at $48,942 early on.

BTCUSD 131221 Hourly Chart

Elsewhere, it was a bearish start to the day.

At the time of writing, Ethereum was down by 3.49% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $49,871 pivot to bring the first major resistance level at $51,052 into play. Support from the broader market would be needed, however, for Bitcoin to breakout from Sunday’s high $50,800.

Barring an extended crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Bitcoin could test the 23.6% FIB $53,628 before any pullback. The second major resistance level sits at $51,981.

Failure to move back through the $49,871 pivot would bring the first major support level at $48,942 back into play. Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$48,000 levels. The second major support level sits at $47,761.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) – A Return to $50,000 Would Support a Run at $53,000

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, rose by 4.73% on Saturday. Reversing a 0.82% loss from Friday, Bitcoin ended the day at $49,426.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $46,872 before making a move. Steering clear of the first major support level at $46,102, Bitcoin rose to a late intraday high $49,522.

Bitcoin broke through the first major resistance level at $49,263 to wrap up the day at $49,400 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish session.

Cardano’s ADA jumped by 11.73% to lead the way. Chainlink (+7.44%) and Litecoin (+6.44%) also found strong support.

Binance Coin (+2.04%), Bitcoin Cash SV (+4.53%), Crypto.com Coin (+0.91%), Ethereum (+4.79%), Polkadot (+0.27%), and Ripple’s XRP (+4.84%) trailed the front runners, however.

In the current week, the crypto total market rose to a Tuesday high $2,420bn before falling to a Saturday low $2,116bn. At the time of writing, the total market cap stood at $2,261.

Bitcoin’s dominance rose to a Monday high 41.90% before falling to a Thursday low 39.90%. At the time of writing, Bitcoin’s dominance stood at 41.49%.

This Morning

At the time of writing, Bitcoin was up by 0.51% to $49,676. A mixed start to the day saw Bitcoin fall to an early morning low $49,372 before rising to a high $49,721.

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

BTCUSD 121221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Chainlink (-0.14%) and Polkadot (-0.23%) bucked the early trend.

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

At the time of writing, Cardano’s ADA was up by 1.85% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $48,607 pivot to bring the first major resistance level at $50,341 into play. Support from the broader market would be needed, however, for Bitcoin to break back through to $50,000 levels.

Barring an extended crypto rally, the first major resistance level would likely cap the upside. In the event of an extended rally, Bitcoin could test the 23.6% FIB $53,628 before any pullback. The second major resistance level sits at $51,257.

A fall through the $48,607 pivot would bring the first major support level at $47,691 into play. Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels and the 38.2% FIB of $44,144. The second major support level at $45,957 should limit the downside.

Daily Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) – A Bearish Start to Test Support with Next Week’s FED Policy Decision in Focus

This is the tech analysis for Bitcoin (BTC). We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s (BTC) Day Prior Moves

Bitcoin, BTC to USD, fell by 0.82% on Friday. Following a 5.73% slide on Thursday, Bitcoin ended the day at $47,208.

After a mixed start to the day, Bitcoin rose to an early afternoon intraday high $50,212 before hitting reverse. Bitcoin broke through the first major resistance level at $49,833 before sliding to a late intraday low $47,051.

Steering clear of the first major support level at $46,397, however, Bitcoin moved back through to $47,200 levels to limit the downside.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was another bearish session.

Chainlink slumped by 8.57% to lead the way down once more, with Cardano’s ADA (-6.12%), Ethereum (-4.99%), Ripple’s XRP (-7.13%) also seeing heavy losses.

Binance Coin (-3.15%), Bitcoin Cash SV (-1.95%), Crypto.com Coin (-2.74%), Litecoin (-1.95%) and Polkadot (-0.87%) saw relatively modest losses, however.

In the current week, the crypto total market fell to a Monday low $2,124bn before rising to a late Tuesday high $2,417bn. At the time of writing, the total market cap stood at $2,133.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Thursday low 39.95%. At the time of writing, Bitcoin’s dominance stood at 41.57%. Bitcoin’s dominance last fell to sub-40% levels back in mid-September.

This Morning

At the time of writing, Bitcoin was down by 0.53% to $46,957. A mixed start to the day saw Bitcoin rise to an early morning high $47,378 before falling to a low $46,872.

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

BTCUSD 111221 Hourly Chart

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 5.08% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $48,157 pivot to bring the first major resistance level at $49,263 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $48,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $50,212 would likely cap the upside. In the event of an extended rally, Bitcoin could test the second major resistance level at $51,318 before easing back.

Failure to move through the $48,157 pivot would bring the first major support level at $46,102 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels and the 38.2% FIB of $44,144. The second major support level at $45,000 should limit the downside.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bitcoin (BTC) – A Return to $50,000 Would Support the Crypto Market. Indicators Flash Red, however

This is the tech analysis for Bitcoin. We will be looking at movements from the day prior and today’s support, resistance, pivot levels, and Fibonacci’s. Additionally, we will look at the broader market moves on the day prior and any key market drivers.

Bitcoin’s Day Prior Moves

Bitcoin, BTC to USD, slid by 5.73% on Thursday. Following a 0.27% decline on Wednesday, Bitcoin ended the day at $47,610.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $50,844.0 before hitting reverse. Falling short of the first major resistance level at $51,610, Bitcoin slid to a late intraday low $47,408. Bitcoin fell through the first major support level at $49,061 and the second major support level at $47,619.

Steering clear of sub-$47,000, however, Bitcoin briefly broke back through the second major support level before ending the day at $47,610 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to $41,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $28,814 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish session.

Chainlink slid by 11.43% to lead the way down, with Bitcoin Cash SV (-9.69%), Cardano’s ADA (-7.66%), Ethereum (-7.54%), and Litecoin (-8.38%) seeing deep red.

Binance Coin (-6.10%), Crypto.com Coin (-5.27%) and Polkadot (-4.28%) also struggled.

Ripple’s XRP ended the day down by a more modest 0.42%, however.

In the current week, the crypto total market fell to a Monday low $2,124bn before rising to a late Tuesday high $2,417bn. At the time of writing, the total market cap stood at $2,227bn.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Thursday low 39.95%. At the time of writing, Bitcoin’s dominance stood at 40.62%. Bitcoin’s dominance last fell to sub-40% levels back in mid-September.

This Morning

At the time of writing, Bitcoin was up by 0.61% to $47,901. A mixed start to the day saw Bitcoin fall to an early morning low $47,500 before rising to a high $48,111.

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

BTCUSD 101221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.50%) and Crypto.com Coin (-2.49%) bucked the early trend.

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

At the time of writing, Chainlink was up by 0.99% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $48,621 pivot to bring the first major resistance level at $49,833 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $49,500 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $50,844 would likely cap the upside. In the event of an extended rally, Bitcoin could test the 23.6% FIB of $53,628 before easing back. The second major resistance level sits at $52,057.

Failure to move through the $48,621 pivot would bring the first major support level at $46,397 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$45,000 levels and the 38.2% FIB of $44,144. The second major support level at $45,185 should limit the downside.

Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP