Crypto Price Analysis August 11: LDO, CEL, FLOW, BTG, NEXO

Key Insights:

  • Celsius led the market with a 27.41% increase in price.
  • Lido DAO followed suit, shooting up by 22.71% in 24 hours.
  • Bitcoin and Ethereum noted a similar increase today, trading at $24k and $1.8k.

The crypto market kept in the green today thanks to the altcoins for balancing out the woes of correction after yesterday’s rise.

As Ethereum completed the Goerli Testnet merge, the final merge before the arrival of Proof of Stake, the king coin and the altcoin king rallied too, rising to $24,111 and $1,878.

Lido DAO (LDO)

Lido DAO could be seen trading closer to $3 today after rising by 22.71% in the last 24 hours, inching closer to invalidating the 60.81% losses from May.

The divergence of the Bollinger Bands indicates the high volatility present in the market, and with the candlesticks residing above the basis of the indicator, LDO is going to continue moving upwards.

Celsius (CEL)

Celsius emerged as one of the best performers of the day thanks to its 27.41% rise today, trading at $2.36.

As the green bars continue rising on the Awesome Oscillator, CEL will be noting support for invalidating the 34.76% crash from March and April.

Flow (FLOW)

FLOW has been performing exceptionally for the last 15 days shooting up by more than 91%, bringing the coin above $3.

The altcoin is now looking to recover the 47.19% losses from May, and the reappearance of a bullish crossover on the MACD will provide support to the coin.

Bitcoin Gold (BTG)

The Bitcoin hardfork noted a 13% rise in the previous 24 hours despite a visible downtrend on the asset.

Parabolic SAR’s white dots present above the candlesticks down do not seem to be stopping BTG from recovering the 30.72% losses in March and April.

Nexo (NEXO)

NEXO did not hold back either and rallied by 15.75% since yesterday to reach closer to $1. Flipping it into support will help the coin recover the rest of the 50.67% losses from June.

The Chaikin Money Flow’s uptick indicates that the uptrend has restored faith in investors as inflows can be observed on the asset.

Chiliz Rallied by 21% As Bitcoin Gold Countered With an 8% Dip 

Key Insights:

  • Chiliz led the few altcoins that were rallying with a 21% rise.
  • On the other hand, Bitcoin Gold joined the market trend with an 8% decline.
  • Bitcoin and Ethereum could be seen trading at $22.9k and $1.6k.

Most of the altcoins were in a downtrend today, and at the time of writing, the crypto market had already marked a 3% decline in 24 hours.

As the total value of all cryptocurrencies slipped to $1.04 trillion, king coin Bitcoin and altcoin king Ethereum also observed a drop in price, with each of them trading at $22,974 and $1,625, respectively.

Chiliz Saves the Day?

Well, as much as the altcoin tried to, it couldn’t since the rest of the market was continuously observing bearish cues.

However, Chiliz, trading at $0.14, shot up by more than 21.8% in the span of just 24 hours. In the process, the altcoin recovered almost half of the 50.75% losses it witnessed during the May crash.

As a result of the rally, CHZ might continue observing an uptrend for a while now. As it is, the Parabolic SAR’s white dots are beneath the candlesticks indicating the same, and as long as the market doesn’t correct, the uptrend will stay.

The chances of a correction in the case of CHZ are low anyway since the cryptocurrency managed to sustain its bullishness. The MACD could be seen maintaining its bullish crossover and the green bar provided further reassurance to investors.

Bitcoin Gold Sticks to the Narrative

The Bitcoin hard fork was leading the altcoins when it came to the downtrend as BTG followed the broader market cues. Closing in red at $30.28, the altcoin slipped by more than 8.27% since yesterday’s open, invalidating half of the 82.3% rally observed last week.

Fortunately for BTG, the altcoin does have the support of all the three Simple Moving Averages (SMA) – 50-day (red), 100-day (blue), and the 200-day SMA (green).

Along with this, the Relative Strength Index (RSI) also sustained itself in the bullish zone after the cooldown from hitting the overbought zone.

These factors will be crucial for BTG in eventually recovering the 58.5% drawdown it witnessed between April and May.

Crypto Market Daily Highlights – SOL and XRP Led the Top Ten

Key Insights:

  • It is a mixed session for the crypto top ten, with Solana (SOL) and Ripple (XRP) finding strong support.
  • There were no cues to give the crypto market direction, leaving investors to lock in some tidy profits.
  • A mixed session saw the total crypto market cap end a four-day winning streak, with a fall of $1.07 billion, to end the day at $1,072 billion.

It is a mixed Saturday session for the crypto top ten. Bitcoin (BTC) failed to hold onto the $24,000 handle for a second consecutive day, despite striking a new July high of $24,619. Ripple (XRP) and Solana (SOL) led the way, with Dogecoin (DOGE) also avoiding the red.

There were no cues for the crypto market, leaving investors to consider US economic indicators from the week. While US GDP numbers pared bets of a 75 basis point rate hike, inflationary pressures picked up, leaving the Fed under pressure to bring inflation back to target.

Monetary policy uncertainty likely contributed to the downside, though there were no heavy losses among the top ten to suggest a shift to a more hawkish outlook.

In June, the Core PCE Price Index increased by 4.8%, year-over-year, versus a forecast and May 4.7% rise. Personal spending increased by 1.1% in June, which was also positive. Economists forecast a 0.9% rise following a modest 0.3% increase in May.

The Saturday pullback came despite the NASDAQ 100 wrapping up the month in bullish style.

On Friday, the NASDAQ 100 rose by 1.88% to end July up 12.35%.

NASDAQ correlation
Total Market Cap – NASDAQ – 310722 Daily Chart

The Total Crypto Market Cap Sees Four Day Winning Streak End

On Saturday, the crypto market rose to a late high of $1,112 billion before falling to a low of $1,059 billion.

However, finding late support, the market cap ended the day at $1,072 billion, down a modest $1.07 billion for the session.

Crypto market cap
Total Market Cap 310722 Daily Chart

There were no cues for the crypto market during the session, leaving investors to lock in gains from the week.

While $1.07 billion came off the table, the crypto market looks set to end a three-month losing streak. For July, the total market cap is up $211.5 billion.

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

It was a mixed session for the crypto top ten.

BNB led the way down, falling 2.04%, with BTC (-0.52%) and ETH (-1.41%) ending the day in the red.

SOL and XRP led the way, rallying by 4.60% and by 5.09%, respectively. ADA (+0.77%) and DOGE (+1.25%) also found support.

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

Filecoin (FIL), yearn.finance (YFI), Oasis Labs (ROSE), and Ravecoin (RVN) were among the front runners.

FIL jumped by 35.10%. YFI (+7.88%), ROSE (+6.53%), and RVN (+8.59%) also made solid gains.

At the other end of the table, Qtum (QTUM), Synthetix (SNX), and Bitcoin Gold (BTG) struggled. SNX slid by 9.85%, with QTUM and BTG falling by 7.13% and 7.94%, respectively.

Total Crypto Liquidations Suggest Improving Market Conditions

On Friday, 24-hour liquidations eased back further in the wake of the Saturday market decline.

At the time of writing, 24-hour liquidations stood at $168 million, down from $238 million on Saturday morning and $543 million on Friday morning.

Liquidated traders declined over the last 24 hours. At the time of writing, liquidated traders stood at 68,567 versus 87,017 on Saturday morning.

Both one and four-hour liquidation figures also reflected a steadying in market conditions.

Crypto liquidations
Total Crypto Liquidations 310722

According to Coinglass, four-hour liquidations stood at $34.29 million, up marginally from $33.66 million on Saturday. One-hour liquidations were $3.80 million, down from $16.17 million (see hourly crypto market cap chart below).

Crypto market settles
Total Market Cap 310722 Hourly Chart

Crypto Market Daily Highlights – Optimism (OP) Leads the Way

Key Insights:

  • It is a mixed session for the crypto top ten, with Binance Coin (BNB) and Cardano (ADA) bucking the top ten trend.
  • The broader crypto market continued to find support from the NASDAQ 100, which ended the week on a bullish note.
  • US economic indicators provided support, with the total crypto cap rising to a July high of $1,107 billion before easing back.

It is a mixed Friday session for the crypto top ten. Bitcoin (BTC) revisited $24,000, with a new July high of $24,416, with Binance Coin (BNB) returning to $300 for the first time since June 6.

Momentum from the dovish Fed rate hike on Wednesday and US economic indicators from Thursday continued to deliver support.

On Friday, US economic indicators were also crypto-market friendly. US inflation picked up modestly in June, while personal spending rose more than forecast.

The Core PCE Price Index increased by 4.8%, year-over-year, versus a forecast and May 4.7% rise.  For the markets, the Fed’s preferred measure showed inflation picking up at a slower pace than the consumer price index. According to the CPI figures, the US annual rate of inflation accelerated from 8.6% to 9.1% in June.

Personal spending increased by 1.1% in June, which was also positive. Economists forecast a 0.9% rise following a modest 0.3% increase in May.

The crypto market tracked the NASDAQ 100 through the US session, and extended gains post the US market close before a late pullback.

On Friday, the NASDAQ 100 rose by 1.88%, following the 1.08% gain on Thursday.

NASDAQ correlation
Total Market Cap – NASDAQ – 300722 5 Min Chart

The Total Crypto Market Cap Visits $1,100 Billion on Bullish Sentiment

On Friday, the crypto market found early support, rising to a day high of $1,107 billion before falling to a day low of $1,050 billion.

However, finding late support, the market cap ended the day at $1,076 billion, up $2.33 billion for the session.

Crypto market cap
Total Market Cap 300722 Daily Chart

The upside came in response to the change in sentiment towards Fed monetary policy. Following the GDP numbers from Thursday, the inflation and personal spending figures could support a smaller Fed rate hike in September.

With another $2 billion flowing into the crypto market, an end to a three-month losing streak looks assured. For July, the total market cap is up $211 billion.

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

BNB led the way, rallying 5.91%, with ADA (+1.75%) also bucking the crypto top ten trend.

It was a bearish session for the rest, with SOL (-2.34%) and XRP (-1.52%) leading the way down.

A late pullback also saw BTC (-0.36%), DOGE (-0.42%), and ETH (-0.17%) end the day in the red.

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

Bitcoin Gold (BTG) led the way, surging by 26.80%. Optimism (OP), yearn.finance (YFI), and Ravecoin (RVN) also made solid gains. OP rallied by 20.50%, with YFI and RVN up by 18.86% and 17.04%, respectively.

At the other end of the table, Curve DAO Token (CRV) led the way down, sliding by 7.72%, with THORChain (RUNE) falling by 5.53%.

Total Crypto Liquidations Suggest a Choppy Start to the Weekend

On Friday, 24-hour liquidations slipped back, with the crypto market seeing a more modest rise following breakout sessions from earlier in the week.

At the time of writing, 24-hour liquidations stood at $238 million, down from $543 million on Friday morning.

Liquidated traders declined over the last 24 hours. At the time of writing, liquidated traders stood at 87,017 versus 120,788 on Friday morning.

However, both one and four-hour liquidation figures remained elevated.

Crypto liquidations
Total Crypto Liquidations 300722

According to Coinglass, four-hour liquidations stood at $33.66 million, down from $96.94 million on Friday. One hour liquidations stood at $16.17 million, up from $3.46 million (see hourly crypto market cap chart below).

Market cap pullback
Total Market Cap 300722 Hourly Chart

Daily News Highlights

  • The US Federal Reserve ordered Voyager to ‘cease and desist’ misleading customers.
  • Zipmex filed for debt relief in Singapore.
  • French lawmakers called for a new committee to probe cryptos.
  • Cardano (ADA) avoided a reversal despite news of a delay to the Vasil hard fork.

Crypto Market Daily Highlights – SOL, ADA, and DOGE See Deep Red

Key Insights:

  • After two mixed sessions, the crypto top ten hit reverse on Friday, with Solana (SOL) leading the way down.
  • For the NASDAQ 100, a three-day winning streak ended, with weak economic indicators reigniting fears of an economic recession.
  • The total coin market cap slid by $20 billion to end the day at $1,009 billion.

It was a bearish Friday session for the crypto top ten. Bitcoin (BTC) gave up early gains to end the day at sub-$23,000, with Solana (SOL) and Cardano (ADA) seeing heavy losses.

US economic indicators weighed on riskier assets. In July, the services PMI slid from 52.7 to 47.0, according to prelim figures, reigniting fears of an economic recession. A PMI value below 50.0 indicates a sector contraction. Services account for more than 70% of the US economy.

The crypto news wires also weighed on bitcoin and the broader market. Investors struggled to shake off the news of Tesla Inc. (TSLA) selling off 75% of its bitcoin holding, with the latest SEC move against the crypto market also negative as the SEC v Ripple case drags on.

On Friday, the broader crypto market tracked the NASDAQ 100 into negative territory in response to the weak private sector PMIs.

The NASDAQ 100 fell by 1.87% to end the week up 3.45%, while the total crypto market cap increased by 8.36% to $1,009 billion, Monday to Friday.

NASDAQ correlation
Total Market Cap – NASDAQ – 230722 5 Min Chart

The Total Crypto Market Cap Tracks the NASDAQ into the Red

After a choppy start to the session, the total crypto market cap hit a Friday high of $1,058 billion before hitting reverse.

The reversal saw the coin market cap slide to a day low of $1,001 billion before steadying.

Having tracked the NASDAQ 100 into the red, crypto investors continued to close positions after the US closing bell.

Crypto market cap
Total Market Cap 230722 Daily Chart

Notable moves across the crypto top ten were an Ethereum return to sub-$1,600 and a BTC fall to sub-$23,000.

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

SOL slid by 5.98% to lead the way down, with ADA (-3.40%) and DOGE (-3.68%) also struggling.

BNB (-1.20%), BTC (-2.02%), ETH (-2.53%), and XRP (-2.40%) saw relatively modest losses.

From the CoinMarketCap top 100, it wasn’t all doom and gloom.

Bitcoin Gold (BTG), surged by 23.33% to lead the top 100, with EOS (EOS), Kusama (KSM), and NEO (NEO) also finding strong support.

Leading the way down, however, was THORChain (RUNE), which slid by 10.81%, with Synthetix (SNX), Arweave (AR), and Lido DAO (LDO) also struggling.

Total Crypto Liquidations Eased Back from a Session High

On Saturday, 24-hour liquidations were on the rise, though the liquidation numbers over short-time horizons suggested improving market conditions.

This morning, 24-hour liquidations stood at $207 million, up from $198 million on Friday while down from $338 million on Thursday.

Liquidated traders also fell over the last 24 hours. At the time of writing, liquidated traders stood at 62,274 versus 65,160 on Friday morning.

While 24-hour liquidations increased, one-hour liquidations were down from Friday.

crypto liquidations
Total Crypto Liquidations 230722

According to Coinglass, one-hour liquidations stood at $3.74 million, down from $4.10 million on Friday. Four-hour liquidations stood at $51.48 million, up from $33.04 million on Friday, aligned with the late crypto sell-off (see below).

Choppy finish
Total Market Cap 230722 Hourly Chart

Daily News Highlights

  • Ethereum co-founder Vitalik Buterin gave updates on the Ethereum network at the Annual Ethereum Community Conference.
  • The Fear & Greed Index held steady on Friday, despite the investor reaction to the Tesla news.
  • From the SEC v Ripple case, the Securities and Exchange Commission filed a request to appeal against the court ruling on the Hinman speech-related documents.
  • SEC Chair Gary Gensler targeted crypto lending shops, claiming jurisdiction.

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.

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

Bitcoin – A Return to $52,000 Levels would Bring $53,500 into Play and Deliver Crypto Market Support

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, fell by 0.27% on Wednesday. Reversing a 0.26% gain from Tuesday, Bitcoin ended the day at $50,503.

After a mixed start to the day, Bitcoin slid to a late morning intraday low $48,726 before making a move. Bitcoin fell through the first major support level at $49,829 and the second major support level at $49,025.

Steering clear of sub-$48,500 levels, however, Bitcoin rose to a mid-afternoon intraday high $51,275. Falling short of the first major resistance level at $51,704, Bitcoin fell back to end the day at $50,500 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 mixed day on Tuesday.

Bitcoin Cash SV slid by 7.58% to lead the way down, with Crypto.com Coin (-4.17%) and Polkadot (-1.94%) also seeing red.

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

Chainlink rallied by 8.62% to lead the way, with Binance Coin (+4.96%) and Ripple’s XRP (+5.63%) also finding strong support.

Cardano’s ADA (+1.23%), Ethereum (+3.02%), and Litecoin (+1.93%) trailed the front runners, 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 $2,377bn.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Wednesday low 40.33%. At the time of writing, Bitcoin’s dominance stood at 40.38%.

This Morning

At the time of writing, Bitcoin was up by 0.56% to $50,788. A mixed start to the day saw Bitcoin fall to an early morning low $50,504 before rising to a high $50,844.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Binance Coin was up by 1.30% to lead the way.

BTCUSD 091221 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $50,168 pivot to bring the first major resistance level at $51,610 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $51,275 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 of $53,628 before easing back. The second major resistance level sits at $52,717.

A fall through the $50,168 pivot would bring the first major support level at $49,061 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$48,000 levels. The second major support level sits at $47,619.

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

Bitcoin Struggles at $50,500. A Move through to $51,500, however, Would Support a Breakout

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, rose by 0.26% on Tuesday. Following a 2.10% gain on Monday, Bitcoin ended the day at $50,634.

Following a relatively bullish morning, Bitcoin rose to a mid-afternoon intraday high $51,970 before hitting reverse. Coming up against the first major resistance level at $51,945, Bitcoin slid to a late intraday low $50,095.

Steering well clear of the first major support level at $48,124, however, Bitcoin found late support to wrap up the day at $50,600 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 mixed day on Tuesday.

Crypto.com Coin surged by 19.90% to lead the way, with Bitcoin Cash SV (5.95%), Chainlink (+6.18%), and Polkadot (+8.12%) finding strong support.

Litecoin (+0.24%) also joined Bitcoin in positive territory.

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

Cardano’s ADA fell by 3.02% to lead the way down.

Binance Coin (-1.61%), Ethereum (-1.01%), and Ripple’s XRP (-1.26%) also struggled.

Early in the week, the crypto total market fell to a Monday low $2,124bn before rising to a late Tuesday high $2,416bn. At the time of writing, the total market cap stood at $2,310bn.

Bitcoin’s dominance rose to a Monday high 41.96% before falling to a Tuesday low 40.65%. At the time of writing, Bitcoin’s dominance stood at 41.22%.

This Morning

At the time of writing, Bitcoin was down by 0.49% to $50,386. A mixed start to the day saw Bitcoin rise to an early morning high $50,700 before falling to a low $50,386.

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

BTCUSD 081221 Hourly Chart

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 6.63% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $50,900 pivot to bring the first major resistance level at $51,704 into play. Support from the broader market would be needed, however, for Bitcoin to break out from $51,500 levels.

Barring an extended crypto rally, the first major resistance level and Tuesday’s high $51,970 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 $52,775.

Failure to move through the $50,900 pivot would bring the first major support level at $49,829 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$49,000 levels. The second major support level at $49,025.

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

The Crypto Daily – Movers and Shakers – December 7th, 2021

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

Bitcoin’s Day Prior

Bitcoin, BTC to USD, rose by 2.10% on Monday. Following a 0.47% gain on Sunday, Bitcoin ended the day at $50,513.

A mixed start to the day saw Bitcoin rise to an early morning high $49,522 before hitting reverse. Falling short of the first major resistance level at $50,209, Bitcoin slid to a late morning intraday low $47,167.

The morning sell-off saw Bitcoin fall through the first major support level at $48,300. Finding support at the second major support level at $47,125, however, Bitcoin rallied to a late intraday high $50,988.

Breaking through the first major resistance level at $50,209, Bitcoin tested the second major resistance level at $50,943 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 mixed day on Monday.

Crypto.com Coin and Polkadot bucked the trend at the start of the week, falling by 1.07% and by 2.76% respectively.

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

Bitcoin Cash SV surged by 25.07% to lead the way, with

Binance Coin (+5.39%), Cardano’s ADA (+3.04%), Ethereum (+3.59%), Litecoin (+3.20%), and Ripple’s XRP (+2.84%) also found strong support.

Chainlink (+1.89%) trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $2,139bn before rising to a late Monday high $2,342bn. At the time of writing, the total market cap stood at $2,334bn.

Bitcoin’s dominance rose to a Monday high 41.76% before falling to a Monday low 40.83%. At the time of writing, Bitcoin’s dominance stood at 41.04%.

This Morning

At the time of writing, Bitcoin was up by 0.37% to $50,699. A mixed start to the day saw Bitcoin fall to an early morning low $50,397 before rising to a high $50,734.

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

BTCUSD 071221 Hourly Chart

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.39%), Bitcoin Cash SV (-0.47%), Ethereum (-0.06%), and Polkadot (-0.34%) saw red early on.

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

At the time of writing, Crypto.com Coin was up by 12.09% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $49,556 pivot to bring the first major resistance level at $51,945 into play. Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $50,988.

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 $55,000 levels before easing back. The second major resistance level sits at $53,377. Bitcoin would need plenty of support, however, to breakout from the 23.6% FIB of $53,628.

A fall through the $49,556 pivot would bring the first major support level at $48,124 into play. Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,000 levels. The second major support level sits at $45,735.