The Crypto Daily – Movers and Shakers – October 18th, 2021

Bitcoin, BTC to USD, rose by 1.05% on Sunday. Partially reversing a 1.33% loss from Saturday, Bitcoin ended the week up by 12.48% to $61,504.0.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $61,475.0 before hitting reverse.

Falling well short of the first major resistance level at $62,077, Bitcoin slid to a late intraday low $59,019.0.

Bitcoin fell through the first major support level at $59,915 before a late move back through to $61,000 levels.

The near-term bullish trend remained intact, supported the latest return to $62,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Binance Coin and Ethereum rose by 1.15% and by 0.46% respectively to buck the trend at the end of the week.

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

Chainlink and Ripple’s XRP fell by 2.55% and by 3.61% respectively to lead the way down.

Bitcoin Cash SV (-1.66%), Crypto.com Coin (-2.08%), and Litecoin (-1.22%) also struggled.

Cardano’s ADA (-0.89%) and Polkadot (-0.20%) saw relatively modest losses on the day, however.

It was also a mixed week ending 17th October for the majors.

Bitcoin Cash SV (-2.26%), Cardano’s ADA (-1.44%), Crypto.com Coin (-1.62%), and Ripple’s XRP (-3.90%) saw red.

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

Binance Coin jumped by 16.51% to lead the way, with Ethereum (+12.66%), Litecoin (+12.46%), and Polkadot (+8.69%) also finding strong support.

Chainlink (+3.43%) trailed the front runners, however.

In the week, the crypto total market fell to a Tuesday low $2,210bn before rising to a Friday high $2,606bn. At the time of writing, the total market cap stood at $2,503bn.

Bitcoin’s dominance fell to a Thursday low 44.43% before rising to a Sunday high 46.75%. At the time of writing, Bitcoin’s dominance stood at 46.63%.

This Morning

At the time of writing, Bitcoin was up by 0.58% to $61,862.0. A mixed start to the day saw Bitcoin fall to an early morning low $61,406.0 before rising to a high $61,862.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA bucked the early trend, falling by 0.09%.

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

At the time of writing, Litecoin was up by 0.55% to lead the way.

BTCUSD 181021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $60,666 pivot to bring the first major resistance level at $62,313 into play.

Support from the broader market would be needed for Bitcoin to break back through to $62,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $62,475.0 would likely cap the upside.

In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $63,122.

Bitcoin would need plenty of support, however, to breakout from 14th April 2021’s swing hi $64,829.0

A fall through the $60,666 would bring the first major support level at $59,857 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, The second major support level sits at $58,210.

The Crypto Daily – Movers and Shakers – October 17th, 2021

Bitcoin, BTC to USD, fell by 1.33% on Saturday. Partially reversing a 7.55% rally from Friday, Bitcoin ended the day at $60,868.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $62,333.0 before hitting reverse.

Falling well short of the first major resistance level at $64,093, Bitcoin fell to a late afternoon intraday low $60,171.0.

Steering clear of the first major support level at $58,074, however, Bitcoin revisited $61,000 levels before easing back.

The near-term bullish trend remained intact, supported the latest return to $62,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Chainlink and Crypto.com Coin rose by 0.93% and by 3.48% respectively to buck the trend on the day.

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

Polkadot fell by 2.27% to lead the way down.

Binance Coin (-1.82%), Cardano’s ADA (-1.73%), and Litecoin (-1.88%), also struggled.

Bitcoin Cash SV (-0.17%), Ethereum (-1.04%), and Ripple’s XRP (-0.80%) saw relatively modest losses on the day, however.

In the current week, the crypto total market fell to a Tuesday low $2,210bn before rising to a Friday high $2,606bn. At the time of writing, the total market cap stood at $2,469bn.

Bitcoin’s dominance fell to a Thursday low 44.43% before rising to a Saturday high 46.64%. At the time of writing, Bitcoin’s dominance stood at 46.42%.

This Morning

At the time of writing, Bitcoin was down by 0.04% to $60,846.0. A mixed start to the day saw Bitcoin rise to an early morning high $60,920.0 before falling to a low $60,651.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.20% to lead the way down.

BTCUSD 171021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $61,124 pivot to bring the first major resistance level at $62,077 into play.

Support from the broader market would be needed for Bitcoin to break out from $61,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $62,333.0 would likely cap the upside.

In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $63,286.

Bitcoin would need plenty of support, however, to breakout from 14th April 2021’s swing hi $64,829.0

Failure to move through the $61,124 would bring the first major support level at $59,915 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, The second major support level sits at $58,962.

The Crypto Daily – Movers and Shakers – October 16th, 2021

Bitcoin, BTC to USD, rallied by 7.55% on Friday. Following a 0.03% decline on Thursday, Bitcoin ended the day at $61,680.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $56,881.0 before making a move.

Steering clear of the first major support level at $56,643, Bitcoin surged to a late intraday high $62,900.0.

Bitcoin broke through the day’s major resistance levels to wrap up the day at $61,000 levels for the 1st time since April.

Demand for Bitcoin came off the back of chatter from the U.S of a likely SEC approval of a Bitcoin futures ETF.

The near-term bullish trend remained intact, supported the latest return to $62,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Crypto.com Coin and Polkadot fell by 1.15% and by 1.14% respectively, with Bitcoin Cash SV (-0.03%) also bucking the trend.

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

Litecoin rallied by 4.50% to lead the way. Cardano’s ADA (+2.01%) and Ethereum (+2.08) also found strong support.

Binance Coin (+0.32%), Chainlink (+0.98%), and Ripple’s XRP (+0.58%) trailed the front runners, however.

In the current week, the crypto total market fell to a Tuesday low $2,210bn before rising to a Friday high $2,606bn. At the time of writing, the total market cap stood at $2,495bn.

Bitcoin’s dominance fell to a Thursday low 44.43% before rising to a Friday high 46.29%. At the time of writing, Bitcoin’s dominance stood at 46.28%.

This Morning

At the time of writing, Bitcoin was down by 0.60% to $61,311.4. A mixed start to the day saw Bitcoin rise to an early morning high $61,780.0 before falling to a low $61,292.0.

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

Elsewhere, it was a mixed start to the day.

Ethereum (-0.59%) and Ripple’s XRP (-0.07%) joined Bitcoin in the red early on.

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

At the time of writing, Crypto.com Coin was up by 1.37% to lead the way.

BTCUSD 161021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $60,487 pivot to bring the first major resistance level at $64,093 into play.

Support from the broader market would be needed for Bitcoin to break out from Friday’s high $62,900.0.

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

In the event of another breakout, Bitcoin could test resistance at $65,000 levels before any pullback. The second major resistance level sits at $66,506.

Bitcoin would need plenty of support, however, to breakout from 14th April 2021’s swing hi $64,829.0

A fall through the $60,487 would bring the first major support level at $58,074 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$55,000, The second major support level sits at $54,468.

Bitcoin Price Prediction – A Breakout from $60,000 to Bring $62,000 into Play

After a mixed day for Bitcoin and the broader market on Thursday, it’s been a broadly bearish morning for the crypto market.

At the time of writing, Bitcoin, BTC to USD, was up by 3.45% to $59,332.0.

A mixed start to the day saw Bitcoin fall to an early morning low $56,881.0 before making a move.

Steering clear of the first major support level at $56,643, Bitcoin rose to a mid-morning high $60,000.0.

Bitcoin broke through the first major resistance level at $58,276 and the second major resistance level at $59,199.

Coming up against resistance at $60,000, however, Bitcoin sipped back to sub-$59,500 levels.

BTCUSD 151021 Hourly Chart

The Rest of the Pack

It has been a bearish morning.

Polkadot led the way down, sliding by 5.09%.

Binance Coin (-2.66%), Bitcoin Cash SV (-1.00%), Chainlink (-0.95%), Crypto.com Coin (-1.53%), and Ripple’s XRP (-1.24%) weren’t far behind.

Cardano’s ADA (-0.50%), Ethereum (-0.18%), and Litecoin (-0.56%) also saw red, however.

Through the early hours, the crypto total market cap fell to an early morning low $2,385bn before rising to a high $2,477bn. At the time of writing, the total market cap stood at $2,441bn.

Bitcoin’s dominance fell to an early morning low 44.74% before rising to a high 45.96%. At the time of writing, Bitcoin’s dominance stood at 45.81%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the second major resistance level at $59,199 to bring $60,000 back into play.

Support from the broader market will be needed, however, for Bitcoin to avoid sub-$59,000.

Barring a broad-based crypto rally, the resistance at the morning high $60,000 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the third major resistance level at $60,832.

A fall through the major resistance levels and the $57,566 pivot would bring the first major support level at $56,643 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$56,000 support levels. The second major support level sits at $55,933.

Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs through the morning.

We also saw the 100 EMA pull away from the 200 EMA delivering further support.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $61,000 levels into play.

Key through the late morning and early afternoon, however, would be to avoid a fall back through to sub-$59,000…

The Crypto Daily – Movers and Shakers – October 15th, 2021

Bitcoin, BTC to USD, fell by 0.03% on Thursday. Following a 2.44% gain on Wednesday, Bitcoin ended the day at $57,354.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $58,488.0 before hitting reverse.

Falling short of the first major resistance level at $58,6661, Bitcoin to a late afternoon intraday low $56,855.0.

Steering clear of the first major support level at $55,188, Bitcoin revisited $58,000 levels before ending the day at sub-$47,500.

The near-term bullish trend remained intact, supported the latest return to $58,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot gave up some of Wednesday’s gains, falling by 2.27%.

Cardano’s ADA (-0.74%) also bucked the broader market trend.

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

Ethereum rallied by 5.08% to lead the way, with Chainlink (+3.84%), Crypto.com Coin (+2.38%), and Litecoin (+2.14%) also finding relatively strong support.

Binance Coin (+0.44%), Bitcoin Cash SV (+0.31%), and Ripple’s XRP (+0.62%) trailed the front runners, however.

In the current week, the crypto total market fell to a Tuesday low $2,210bn before rising to a Thursday high $2,483bn. At the time of writing, the total market cap stood at $2,406bn.

Bitcoin’s dominance rose to a Tuesday high 45.99% before falling to a Thursday low 44.43%. At the time of writing, Bitcoin’s dominance stood at 44.79%.

This Morning

At the time of writing, Bitcoin was down by 0.29% to $57,190.0. A mixed start to the day saw Bitcoin rise to an early morning high $57,389.0 before falling to a low $57,155.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Litecoin was down by 0.99% to lead the way.

BTCUSD 151021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $57,566 pivot to bring the first major resistance level at $58,276 into play.

Support from the broader market would be needed for Bitcoin to break back through to $58,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $58,488.0. would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $60,000 levels before any pullback. The second major resistance level sits at $59,199.

Failure to move through the $57,566 would bring the first major support level at $56,643 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$55,000, The second major support level at $55,933 should limit the downside.

Bitcoin Price Prediction – Failure to Breakout from $58,500 Would Bring sub-$56,000 into Play

After a bullish day for Bitcoin and the broader market on Wednesday, it’s been a broadly bullish morning for the crypto market.

At the time of writing, Bitcoin, BTC to USD, was up by 0.74% to $57,790.0.

A mixed start to the day saw Bitcoin fall to an early morning low $57,153.0 before making a move.

Steering clear of the first major support level at $55,188, Bitcoin rose to a mid-morning high $58,488.0.

Falling short of the first major resistance level at $58,661, however, Bitcoin slipped back to sub-$58,000 levels.

The Rest of the Pack

It has been a mixed morning.

Polkadot bucked the morning trend, falling by 0.66%.

It’s been a bullish morning for the rest of the majors, however.

At the time of writing, Chainlink was up by 7.44% to lead the way.

Binance Coin (+2.06%), Crypto.com Coin (+2.41%), Ethereum (+3.54%), and Litecoin (+2.29%) also found strong support.

Bitcoin Cash SV (+1.74%), Cardano’s ADA (+0.15%), and Ripple’s XRP (+1.17%) trailed the front runners, however.

Through the early hours, the crypto total market cap fell to an early morning low $2,383bn before rising to a high $2,4335bn. At the time of writing, the total market cap stood at $2,427bn.

Bitcoin’s dominance rose to an early morning high 45.69% before falling to a low 44.82%. At the time of writing, Bitcoin’s dominance stood at 44.88%.

For the Afternoon Ahead

Bitcoin would need to avoid the $56,482 pivot to bring the first major resistance level at $58,661 back into play.

Support from the broader market will be needed, however, for Bitcoin to break out from the morning high $58,488.0.

Barring a broad-based crypto rally, the first major resistance level at $58,661 and resistance at $59,000 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the $60,000 levels before any pullback. The second major resistance level sits at $59,955.

A fall through the $56,482 pivot would bring the first major support level at $55,188 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$53,000 support levels. The second major support level at $53,009 should limit the downside.

Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs through the morning.

We also saw the 100 EMA pull away from the 200 EMA delivering further support.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $60,000 levels into play.

Key through the late morning and early afternoon, however, would be move back through to $58,000 levels to support a breakout.

The Crypto Daily – Movers and Shakers – October 14th, 2021

Bitcoin, BTC to USD, rose by 2.44% on Wednesday. Reversing a 2.54% loss from Tuesday, Bitcoin ended the day at $57,368.0.

A mixed start to the day saw Bitcoin fall to a late morning intraday low $54,302.0 before making a move.

Steering clear of the first major support level at $53,944, Bitcoin rallied to a late intraday high $57,775.0.

Falling short of the first major resistance level at $57,867, Bitcoin eased back to end the day at sub-$57,500 levels.

The near-term bullish trend remained intact, supported the latest return to $57,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot surged by 15.69% to lead the way, with Binance Coin rallying by 5.92%.

Cardano’s ADA (+3.37%), Chainlink (+4.50%), and Ethereum (+3.38%) also found relatively strong support.

Bitcoin Cash SV (+1.47%), Crypto.com Coin (+0.98%), Litecoin (+2.89%), and Ripple’s XRP (+2.54%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $2,438bn before falling to a Tuesday low $2,210bn. At the time of writing, the total market cap stood at $2,398bn.

Bitcoin’s dominance fell to a Monday low 44.54% before rising to a Tuesday high 45.99%. At the time of writing, Bitcoin’s dominance stood at 45.17%.

This Morning

At the time of writing, Bitcoin was up by 0.19% to $57,475.0. A mixed start to the day saw Bitcoin fall to an early morning low $57,367.9 before rising to a high $57,525.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.05%) and Chainlink (-0.59%) 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 1.52% to lead the way.

BTCUSD 141021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $56,482 pivot to bring the first major resistance level at $58,661 into play.

Support from the broader market would be needed for Bitcoin to break back through to $58,000 levels.

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

In the event of a broad-based crypto rally, Bitcoin could test resistance at $60,000 levels before any pullback. The second major resistance level sits at $59,955.

A fall through the $56,482 would bring the first major support level at $55,188 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$53,000, The second major support level at $53,009 should limit the downside.

Bitcoin Price Prediction – Bears Target a Return to Sub-$53,000 as Bulls Falter at $57,000…

After a mixed day for Bitcoin and the broader market on Tuesday, it’s been a broadly bearish morning for the broader market.

At the time of writing, Bitcoin, BTC to USD, was down by 2.33% to $54,703.0.

A mixed start to the day saw Bitcoin rise to an early morning high $56,587.0 before hitting reverse.

Falling short of the first major resistance level at $57,868, Bitcoin slid to a late morning low $54,300.0.

Steering clear of the first major support level at $53,944, Bitcoin return to $54,700 levels.

BTCUSD 131021 Hourly Chart

The Rest of the Pack

It has been a mixed morning.

Binance Coin and Polkadot bucked the trend through the morning, with gains of 3.36% and 1.75% respectively.

For the rest of the majors, it was a bearish morning.

At the time of writing, Ripple’s XRP was down by 1.32% to lead the way down.

Crypto.com Coin (-0.83%) and Ethereum (-1.09%) also struggled.

Bitcoin Cash SV (-0.40%), Cardano’s ADA (-0.37%), Chainlink (-0.06%), and Litecoin (-0.30%).

Through the early hours, the crypto total market cap rose to an early morning high $2,355bn before falling to a low $2,275bn. At the time of writing, the total market cap stood at $2,301bn.

Bitcoin’s dominance rose to an early morning high 45.35% before falling to a low 44.87%. At the time of writing, Bitcoin’s dominance stood at 45.01%.

For the Afternoon Ahead

Bitcoin would need to move back through the $55,803 pivot to bring the first major resistance level at $57,868 into play.

Support from the broader market will be needed, however, for Bitcoin to break out from the morning high $56,587.0.

Barring a broad-based crypto rally, the first major resistance level at $57,868 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the $60,000 levels before any pullback. The second major resistance level sits at $59,726.

Failure to move back through the $55,803 pivot would bring the first major support level at $53,944 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$53,000 support levels. The second major support level sits at $51,879.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and 200 EMAs through the morning.

We also saw the 100 EMA narrow marginally on the 200 EMA delivering further downward pressure.

Through the 2nd half of the day, a further narrowing of the 50 EMA on the 100 would bring sub-$54,000 levels into play.

Key through the late morning and early afternoon, however, would be move back through $55,803 pivot to support a breakout.

A Door To Decentralized Finance: What is LocalTrade’s DeFi Lab?

“DeFi does show the opportunity which blockchain offers to finance. We believe that one of the best differences against being dis-intermediated by DeFi would be mainstream finance grasping these opportunities,” mentioned the Bank of America in a recent report, adding that they see a true radical change to mainstream capital markets.

Initiatives and projects are thriving, offering more and more financial services in a decentralized way, with Decentralized Exchanges or DEXs, peer-to-peer lending, stablecoins, prediction markets, and yield farming being the most popular DeFi products. These products are normally offered through platforms that have support for Ethereum ERC20 or any other blockchain that enable smart contracts. They do not only remove middle-man issues but increase flexibility and bring breakthrough returns to the investors.

Companies are exploring DeFi from different perspectives and solutions. For example, Chainlink is one of the most well known decentralized oracle network. Their technology feeds real-world data to smart contracts on the blockchain and thus serves as a link between the unprecedented amount of information going back and forth between crypto Decentralized Applications or DApps.

Another project worth mentioning is the Decentralized Exchange Uniswap. One of the leading initiatives in the DEXs market, their solution employs an Automated Market Maker system (AMM) to ensure that there is sufficient liquidity for the ERC20 tokens traded on its site. Uniswap has attracted a huge user base as per its crypto-asset solutions, which provides extra security, control over private keys and low fees.

And yet, these two projects are focused on a niche target, still a long way from mass adoption. LocalTrade, one of the biggest crypto exchanges by 24h volume, is trying to bring together the traditional crypto market and all the opportunities that DeFi can offer.

LocalTrade’s multiple solutions, written down in their white paper and in the company’s road map, is precisely to tackle all those challenges and simplify, literally, the entry point of investors to the DeFi sphere.

They have set out on one mission: “to remove the investment barriers by creating a simple & customized investment tool with the best CeFi & DeFi products in one ecosystem.” Because, indeed, there are some challenges.

Tackling the DeFi challenges

There are several challenges to account for for newcomers. As with any software-based solution, DeFi services always come with security risks. In fact, smart contracts are the most considerable DeFi’s risk since an attacker may use smart contract weaknesses to steal user money.

DeFi solutions work in a regulatory grey zone. You can find anything from cash instruments to derivative assets in DeFi, but since they are blockchain-based, none of these tools are fully legal in most jurisdictions; this creates additional barriers to entry.

DeFi’s global adoption is being slowed by inadequate user interfaces, a lack of customer service, and insufficient data. A lack of simple-to-use and simple-to-understand DeFi apps fosters mistrust and reduces retail market players’ rapid adoption.

The Entry Point hub: LocalTrade’s DeFi Lab

DeFi initiatives face multiple challenges but none as important as answering the question: how to attract mainstream investors into the space? There are various solutions in the market, though it is worth mentioning LocalTrade’s DeFi Lab as a holistic hub from which to build an entire DeFi ecosystem.

This DeFi Lab is one of the company’s solutions to make it accessible for all retail investors. In fact, the company has developed the tool specifically to cater to the mainstream crowd, making it easier for them to enter the market. DeFi Lab represents a set of distinctive digital investment tools, categorized by their risk basis.

“Our mission is to provide easy access to the most profitable and secure DeFi & CeFi financial products using existing CEX payment infrastructure and capacity. Combining CEX expertise and DeFi opportunities, we will run a DeFi Lab for a new generation of independent crypto investors looking for trustworthy tools to help them leverage market opportunities within an exponentially growing industry,” commented the company.

The DeFi lab is just the beginning for LocalTrade. It is the hub where they will launch a series of in-house financial services that will be available according to their ambitious roadmap, including a NeoBroker Smart-fund, Yield Farming Protocol, support fo Token Sale/ ICO, a DeFi wallet linked to the CeFi part of the company, TT Staking & Farming, a Launchpad and plans for the creation of a LocalTrade DEX.

The operability between the CeFi part of the company and the DeFi ecosystem will be based on a solution the company calls the Bridge. This is a protocol that will effectively bridge the CeFi exchange and the DeFi products of the company hosted in the DeFi Lab. This protocol, decentralized and trustless, will enable exchange of assets between different blockchains.

“Powered by LocalTrade DEX pools, the bridge provides swift execution and offers an additional incentive mechanism for users. LocalTrade Bridge will be integrated into the LocalTrade DeFi wallet, enabling instant cross-chain swaps from within the mobile app, with no limits on exchange volume,” as the company describes it.

The buzz around DeFi is growing exponentially, and not only by hard-core crypto investors, but by media outlets and traditional banks alike. In fact, the Bank of America states that DeFi is “potentially more disruptive than Bitcoin”. As the second biggest bank in the US sees it, DeFi is a radical change to traditional capital markets that can eventually disrupt the current system. But there are still some costly entry points to solve, including a mix of distrust among investors and highly complex products that drag its mainstream adoption back.

Building trust and supporting investors entering the DeFi space is a challenge that crypto and blockchain-based companies are working hard to solve. From Uniswap and their leading DEX exchange, through decentralized oracle network Chainlink, to CeFi/DeFi initiative LocalTrade, there are many pioneers opening the door to decentralized finance.

The Crypto Daily – Movers and Shakers – October 13th, 2021

Bitcoin, BTC to USD, fell by 2.54% on Tuesday. Partially reversing a 5.14% gain from Monday, Bitcoin ended the day at $56,009.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $57,661.0 before hitting reverse.

Falling short of the first major resistance level at $58,730, Bitcoin slid to a late intraday low $53,837.5.

Bitcoin fell through the first major support level at $55,339 before a partial recovery to $56,000 levels.

The near-term bullish trend remained intact, supported the latest return to $57,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Binance Coin rallied by 7.54%, with Polkadot ending the day up by 5.76% to buck the broader trend.

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

Crypto.com Coin slid by 6.12% to lead the way down, with Bitcoin Cash SV ending the day down by 4.55%.

Cardano’s ADA (-2.51%), Chainlink (-2.35%), Litecoin (-3.64%), and Ripple’s XRP (-2.95%) also struggled.

Ethereum saw a more modest 1.46% loss on the day, however.

Early in the week, the crypto total market rose to a Monday high $2,428bn before falling to a Tuesday low $2,210bn. At the time of writing, the total market cap stood at $2,340bn.

Bitcoin’s dominance fell to a Monday low 44.83% before rising to a Tuesday high 46.00%. At the time of writing, Bitcoin’s dominance stood at 45.32%.

This Morning

At the time of writing, Bitcoin was up by 0.46% to $56,266.0. A mixed start to the day saw Bitcoin fall to an early morning low $55,819.0 before rising to a high $56,275.0

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

Elsewhere, it was a mixed start to the day.

Ripple’s XRP bucked the early trend, falling by 0.41%.

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

At the time of writing, Bitcoin Cash SV was up by 2.26% to lead the way.

BTCUSD 131021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $55,803 pivot to bring the first major resistance level at $57,868 into play.

Support from the broader market would be needed for Bitcoin to break back through to $57,000 levels.

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

In the event of a broad-based crypto rally, Bitcoin could test resistance at $60,000 levels before any pullback. The second major resistance level sits at $59,726.

A fall through the $55,803 would bring the first major support level at $53,944 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$53,000, The second major support level sits at $51,879.

Bitcoin Price Prediction – Bulls Target $60,000. Avoiding sub-$56,000 Will be Key, However

After a mixed start to the week for Bitcoin and the broader market on Monday, it’s been a broadly bearish morning…

At the time of writing, Bitcoin, BTC to USD, was down by 0.33% to $57,300.0.

A mixed start to the day saw Bitcoin fall to an early morning low $56,440.0 before making a move.

Steering clear of the first major support level at $55,339, Bitcoin rose to a mid-morning high $57,661.0.

Falling short of the first major resistance level at $58,730, however, Bitcoin eased back to sub-$57,500 levels and into the red.

BTCUSD 121021 Hourly Chart

The Rest of the Pack

It has been a bearish morning.

At the time of writing, Bitcoin Cash SV and Crypto.com Coin were down by 4.12% and by 4.39% respectively to lead the way down.

Chainlink (-3.80%), Litecoin (-3.14%), and Ripple’s XRP (-3.50%) also struggled.

Binance Coin (-2.46%), Cardano’s ADA (-2.78%),  Ethereum (-1.87%), and Polkadot (-2.49%) saw relatively modest losses, however.

Through the early hours, the crypto total market cap rose to an early morning high $2,357bn before falling to a low $2,301bn. At the time of writing, the total market cap stood at $2,327bn.

Bitcoin’s dominance fell to an early morning low 45.91% before rising to a high 46.38%. At the time of writing, Bitcoin’s dominance stood at 46.36%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the $56,580 pivot to bring the first major resistance level at $58,730 into play.

Support from the broader market will be needed, however, for Bitcoin to break out from the morning high $57,661.0.

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

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the $60,000 levels before any pullback. The second major resistance level sits at $59,971.

A fall back through the $56,580 pivot would bring the first major support level at $55,339 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$55,000 support levels. The second major support level sits at $53,189.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 and 200 EMAs through the late morning.

We also saw the 100 EMA pull away from the 200 EMA delivering further support.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $60,000 levels and beyond into play.

Key through the late morning and early afternoon, however, would be to avoid a fall back through $56,580 pivot.

The Crypto Daily – Movers and Shakers – October 12th, 2021

Bitcoin, BTC to USD, rose by 5.14% on Monday. Reversing a 0.52% decline from Sunday, Bitcoin ended the day at $57,489.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $54,430.0 before making a move.

Steering clear of the first major support level at $53,720, Bitcoin rose to a late intraday high $57,821.0.

Bitcoin broke through the first major resistance level at $56,056 and the second major resistance level at $57,421.

A late pullback saw Bitcoin briefly fall back through the second major resistance level to sub-$57,000 levels.

Finding late support, however, Bitcoin wrapped up the day at $57,480 levels.

The near-term bullish trend remained intact, supported the latest return to $57,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot slid by 5.73% to lead the way down, with Chainlink falling by 1.74%.

Cardano’s ADA (-0.83%), also saw red on the day.

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

Ethereum rose by 3.74% to lead the way, with Binance Coin (+2.23%), Bitcoin Cash SV (+2.50%), and Litecoin (+2.53%) also finding strong support.

Crypto.com Coin (+1.21%) and Ripple’s XRP (+0.21%) trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $2,272bn before rising to a Monday high $2,382bn. At the time of writing, the total market cap stood at $2,334bn.

Bitcoin’s dominance fell to a Monday low 44.83% before rising to a Monday high 46.18%. At the time of writing, Bitcoin’s dominance stood at 45.93%.

This Morning

At the time of writing, Bitcoin was down by 0.98% to $56,927.0. A bearish start to the day saw Bitcoin fall from an early morning high $57,470.0 to a low $56,888.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.90% to lead the way down.

BTCUSD 121021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $56,580 pivot to bring the first major resistance level at $58,730 into play.

Support from the broader market would be needed for Bitcoin to break back through to $58,000 levels.

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

In the event of a broad-based crypto rally, Bitcoin could test resistance at $60,000 levels before any pullback. The second major resistance level sits at $59,971.

A fall through the $56,580 would bring the first major support level at $55,339 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$55,000, The second major support level sits at $53,189.

The Crypto Daily – Movers and Shakers – October 11th, 2021

Bitcoin, BTC to USD, fell by 0.52% on Sunday. Partially reversing a 1.89% gain from Saturday, Bitcoin ended the week up by 13.37% to $54,691.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $54,114.0 before making a move.

Steering clear of the first major support level at $53,939, Bitcoin rose to a late intraday high $56,450.0.

Bitcoin broke through the first major resistance level at $55,736 before falling back to sub-$55,000 levels and into the red.

Late in the day, the second major resistance level at $56,504 pegged Bitcoin back.

The near-term bullish trend remained intact, supported the latest return to $56,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Chainlink slid by 6.52% to lead the way down.

Binance Coin (-4.20%), Bitcoin Cash SV (-3.60%), Cardano’s ADA (-3.48%), Ethereum (-4.48%), and Polkadot (-4.75%) also saw deep red.

Crypto.com Coin (-0.36%), Litecoin (-2.82%), Ripple’s XRP (-2.09%) saw relatively modest losses, however.

It was a mixed week for the majors, however, in the week ending 10th October

Binance Coin (-6.14%), Chainlink (6.94%), and Polkadot (-5.42%) led the way down.

Cardano’s ADA (-2.78%) and Ethereum (-0.15%) also struggled.

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

Bitcoin Cash SV jumped by 19.28% to lead the way.

Crypto.com Coin (+6.24%), Litecoin (+2.49%), and Ripple’s XRP (+7.67%) also joined Bitcoin in the green.

In the week, the crypto total market fell to a Monday low $2,009bn before rising to a Friday high $2,425bn. At the time of writing, the total market cap stood at $2,287bn.

Bitcoin’s dominance fell to a Tuesday low 42.52% before rising to a Wednesday high 45.62%. At the time of writing, Bitcoin’s dominance stood at 44.97%.

This Morning

At the time of writing, Bitcoin was down by 0.40% to $54,473.0. A mixed start to the day saw Bitcoin rise to an early morning high $54,681.0 before falling to a low $54,461.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.32% to lead the way down.

BTCUSD 111021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $55,085 pivot to bring the first major resistance level at $56,056 into play.

Support from the broader market would be needed for Bitcoin to break back through to $56,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Sunday’s high $56,450.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $58,000 levels before any pullback. The second major resistance level sits at $57,421.

Failure to move through the $55,085 would bring the first major support level at $53,720 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$52,000, The second major support level at $52,749 should limit the downside.

The Crypto Daily – Movers and Shakers – October 10th, 2021

Bitcoin, BTC to USD, rose by 1.89% on Saturday. Following a 0.28% gain on Friday, Bitcoin ended the day at $54,968.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $53,678.0 before making a move.

Steering clear of the first major support level at $53,051, Bitcoin rose to an early afternoon intraday high $55,475.0.

Bitcoin broke through the first major resistance level at $55,422 before falling back to sub-$54,500 levels.

Finding late support, however, Bitcoin tested resistance at $55,000 before easing back.

The near-term bullish trend remained intact, supported the latest return to $56,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Crypto.com Coin bucked the trend, falling by 0.45%.

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

Ripple’s XRP jumped by 9.03% to lead the way, with Polkadot (+6.96%) close behind.

Bitcoin Cash SV (+2.16%), Chainlink (+3.98%), and Litecoin (+2.29%) also found strong support.

Binance Coin (+0.65%), Cardano’s ADA (+1.43%), Ethereum (+0.33%), trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $2,009bn before rising to a Friday high $2,425bn. At the time of writing, the total market cap stood at $2,351bn.

Bitcoin’s dominance fell to a Tuesday low 42.52% before rising to a Wednesday high 45.62%. At the time of writing, Bitcoin’s dominance stood at 43.98%.

This Morning

At the time of writing, Bitcoin was down by 0.11% to $54,907.0. A mixed start to the day saw Bitcoin rise to an early morning high $54,984.0 before falling to a low $54,871.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Litecoin was down by 0.74% to lead the way down.

BTCUSD 101021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $54,707 pivot to bring the first major resistance level at $55,736 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $55,475.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $56,000.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $58,000 levels before any pullback. The second major resistance level sits at $56,504.

A fall through the $54,707 would bring the first major support level at $53,939 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$52,000, The second major support level at $52,910 should limit the downside.

The Crypto Daily – Movers and Shakers – October 9th, 2021

Bitcoin, BTC to USD, rose by 0.28% on Friday. Partially reversing a 2.78% fall from Thursday, Bitcoin ended the day at $53,947.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $53,628.0 before making a move.

Steering clear of the first major support level at $53,034, Bitcoin rose to a late morning intraday high $56,000.0.

Bitcoin broke through the first major resistance level at $54,954.

Coming within range of the second major resistance level at $56,112, however, Bitcoin fell back to end the day at sub-$54,000 levels.

The near-term bullish trend remained intact, supported the latest return to $56,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Crypto.com Coin bucked the trend, rising by 3.03%.

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

Binance Coin led the way down, sliding by 4.40%.

Bitcoin Cash SV (-2.65%), Cardano’s ADA (-1.79%), Chainlink (-1.71%), Litecoin (-1.53%), and Polkadot (-2.14%) also struggled.

Ethereum (-0.69%) and Ripple’s XRP (-0.53%) saw relatively modest losses, however.

In the current week, the crypto total market fell to a Monday low $2,082bn before rising to a Friday high $2,424bn. At the time of writing, the total market cap stood at $2,303bn.

Bitcoin’s dominance fell to a Monday low 42.06% before rising to a Wednesday high 45.04%. At the time of writing, Bitcoin’s dominance stood at 43.94%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $53,819.6. A mixed start to the day saw Bitcoin rise to an early morning high $53,964.0 before falling to a low $53,678.0.

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

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

At the time of writing, Crypto.com Coin led the way down, falling by 1.40%.

BTCUSD 091021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $54,525 pivot to bring the first major resistance level at $55,422 into play.

Support from the broader market would be needed for Bitcoin to break back through to $55,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Friday’s high $56,000.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $58,000 levels before any pullback. The second major resistance level sits at $56,896.

Failure to move through the $54,525 would bring the first major support level at $53,051 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$52,000, The second major support level at $52,154 should limit the downside.

Bitcoin Price Prediction – Bulls Continue to Eye a Return to $60,000…

After another mixed day for Bitcoin and the broader market on Thursday, it’s been a broadly bullish Friday morning…

At the time of writing, Bitcoin, BTC to USD, was up by 2.92% to $55,369.0.

A mixed start to the day saw Bitcoin fall to an early morning low $53,618.0 before making a move.

Steering clear of the first major support level at $53,034, Bitcoin rallied to a late morning intraday high $56,000.0.

Bitcoin broke through the first major resistance level at $54,954 to hold onto $55,000 levels.

The second major resistance level at $56,112 pegged Bitcoin back in the late morning.

BTCUSD 081021 Hourly Chart

The Rest of the Pack

It has been a mixed morning.

Binance Coin and Polkadot bucked the morning trend, falling by 0.62% and by 3.82% respectively.

It’s been a bullish morning for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 5.13% to lead the way.

Chainlink (+1.22%), Ethereum (+1.19%), and Litecoin (+1.05%) also found relatively strong support.

Bitcoin Cash SV (+0.21%), Cardano’s ADA (+0.25%), and Ripple’s XRP (+0.88%) trailed the front runners, however.

Through the early hours, the crypto total market cap fell to an early morning low $2,304bn before rising to a high $2,381bn. At the time of writing, the total market cap stood at $2,361bn.

Bitcoin’s dominance fell to an early morning high 43.78% before rising to a high 44.39%. At the time of writing, Bitcoin’s dominance stood at 44.17%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the first major resistance level at $54,954 to bring the second major resistance level at $56,112 back into play.

Support from the broader market will be needed, however, for Bitcoin to break out from the morning high $56,000.0.

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

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the $60,000 levels before any pullback. The third major resistance level sits at $58,032.

A fall back through the first major resistance level and the $54,192 pivot would bring the first major support level at $53,034 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$52,000 support levels. The second major support level at $52,272 should limit the downside.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 and 200 EMAs through the morning.

We also saw the 100 EMA pull away from the 200 EMA delivering further support.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $60,000 levels and beyond into play.

Key through the late morning and early afternoon, however, would be to avoid a fall back through the first major resistance level at $54,954.

The Crypto Daily – Movers and Shakers – October 8th, 2021

Bitcoin, BTC to USD, fell by 2.78% on Thursday. Partially reversing a 7.45% rally from Wednesday, Bitcoin ended the day at $53,797.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $55,349.0 before hitting reverse.

Falling well short of the first major resistance level at $57,239, Bitcoin slid to an early afternoon intraday low $53,429.0.

Steering clear of the first major support level at $51,934, however, Bitcoin revisited $54,600 levels before ending the day at sub-$54,000 levels.

The near-term bullish trend remained intact, supported the latest return to $55,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Crypto.com Coin and Ripple’s XRP fell by 0.66% and by 0.78% respectively to join Bitcoin in the red.

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

Bitcoin Cash SV jumped by 19.38% to lead the way, with Polkadot (+8.54%) and Cardano’s ADA (+3.11%) also finding strong support.

Binance Coin (+0.83%), Chainlink (+0.07%), Ethereum (+0.34%), and Litecoin (+0.06%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $2,082bn before rising to a Wednesday high $2,404bn. At the time of writing, the total market cap stood at $2,315bn.

Bitcoin’s dominance fell to a Monday low 42.06% before rising to a Wednesday high 45.04%. At the time of writing, Bitcoin’s dominance stood at 43.88%.

This Morning

At the time of writing, Bitcoin was up by 0.28% to $53,949.0. A mixed start to the day saw Bitcoin fall to an early morning low $53,754.0 before rising to a high $53,987.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.65%), Crypto.com Coin (-0.10%), and Polkadot (-0.02%) bucked the early trend.

It’s been a bullish start for the rest of the majors, however.

At the time of writing, Litecoin was up by 0.71% to lead the way.

BTCUSD 081021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $54,192 pivot to bring the first major resistance level at $54,954 into play.

Support from the broader market would be needed for Bitcoin to break out from $54,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $55,349.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $57,000 levels before any pullback. The second major resistance level sits at $56,112.

Failure to move through the $54,192 would bring the first major support level at $53,034 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$52,000, The second major support level at $52,272 should limit the downside.

Bitcoin Price Prediction – Having Hit $55,000, the Bitcoin Bulls Will be Eyeing $60,000…

After a mixed day for Bitcoin and the broader market on Wednesday, it’s been a testy morning…

At the time of writing, Bitcoin, BTC to USD, was down by 2.44% to $53,986.0.

A mixed start to the day saw Bitcoin rise to an early morning high $55,349.0 before hitting reverse.

Falling well short of the first major resistance level at $57,239, Bitcoin slid to a late morning low $53,838.

Avoiding the first major support level at $51,934, however, Bitcoin found support to return to $54,000 levels.

BTCUSD 071021 Hourly Chart

The Rest of the Pack

It has been a mixed morning.

Bitcoin Cash SV was up by 11.89% to lead the way, with Polkadot (+5.74%) finding much needed support.

Binance Coin (+1.41%), Cardano’s ADA (+3.79%), Chainlink (+0.04%), and Litecoin (+1.62%) also avoided the red.

It’s been a bearish morning for the rest of the crypto majors, however.

Crypto.com Coin (-0.91%), Ethereum (-0.77%), and Ripple’s XRP (-0.38%) joined Bitcoin in the red.

Through the early hours, the crypto total market cap fell to an early morning low $2,263bn before rising to a high $2,327bn. At the time of writing, the total market cap stood at $2,295bn.

Bitcoin’s dominance rose to an early morning high 45.23% before falling to a low 44.11%. At the time of writing, Bitcoin’s dominance stood at 44.31%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the $53,839 pivot to bring the first major resistance level at $57,239 back into play.

Support from the broader market will be needed, however, for Bitcoin to break out from Wednesday’s high $55,743.0.

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

In the event of another extended rally through the afternoon, Bitcoin could test resistance at the $60,000 levels before any pullback. The second major resistance level sits at $59,144.

A fall back through the $53,839 pivot would bring the first major support level at $51,934 into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$50,000 support levels and the second major support level at $48,534.

The 23.6% FIB of $50,473 should limit any downside.

Looking beyond the support and resistance levels, we saw the 50 EMA pull further away from the 100 and 200 EMAs through the morning.

We also saw the 100 EMA pull away from the 200 EMA limiting the morning losses.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $57,000 levels and beyond into play.

Key through the late morning and early afternoon, however, would be to avoid a fall back through the $53,839 pivot.

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

Bitcoin, BTC to USD, rallied by 7.45% on Wednesday. Following a 4.58% gain on Tuesday, Bitcoin ended the day at $55,335.0.

A mixed start to the day saw Bitcoin fall to a late morning intraday low $50,438.0 before making a move.

While steering clear of the first major support level at $49,741, Bitcoin fell through the 23.6% FIB of $50,473.

Finding late morning support, however, Bitcoin rallied to a late intraday high $55,743.0.

Bitcoin broke through the first major resistance level at $52,298 and the second major resistance level at $53,689.

The breakout also saw Bitcoin break back through the 23.6% FIB of $50,473 to end the day at $55,000 levels.

The near-term bullish trend remained intact, supported the latest return to $55,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot slid by 4.57% to lead the way down.

Binance Coin (-1.70%), Cardano’s ADA (-1.07%), Chainlink (-1.47%), and Ripple’s XRP (-0.38%) also saw red on the day.

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

Crypto.com Coin rallied by 5.46% to lead the way.

Bitcoin Cash SV (+1.33%), Ethereum (+1.64%), and Litecoin (+2.70%) also found support.

In the current week, the crypto total market fell to a Monday low $2,082bn before rising to a Wednesday high $2,402bn. At the time of writing, the total market cap stood at $2,293bn.

Bitcoin’s dominance fell to a Monday low 42.06% before rising to a Wednesday high 45.08%. At the time of writing, Bitcoin’s dominance stood at 45.09%.

This Morning

At the time of writing, Bitcoin was down by 0.84% to $54,868.0. A mixed start to the day saw Bitcoin rise to an early morning high $55,349.0 before falling to a low $54,814.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Bitcoin Cash SV was down by 1.82% to lead the way down.

BTCUSD 071021 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $53,839 pivot to bring the first major resistance level at $57,239 into play.

Support from the broader market would be needed for Bitcoin to break out from $56,500 levels.

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

In the event of a broad-based crypto rally, Bitcoin could test resistance at $60,000 levels before any pullback. The second major resistance level sits at $59,144.

A fall through the $53,839 would bring the first major support level at $51,934 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$50,000 and the second major support level at $48,534. The 23.6% FIB of $50,473 should limit the downside.

Bitcoin Price Prediction – Bulls Eye $55,000…

After a bullish day for Bitcoin and the broader market on Tuesday, it’s been a testy morning…

At the time of writing, Bitcoin, BTC to USD, was down by 0.07% to $51,472.9.

A mixed start to the day saw Bitcoin rise to an early morning high $51,829.0 before hitting reverse.

Falling short of the first major resistance level at $52,598, Bitcoin slid to a late morning low $50,438.

Avoiding the first major support level at $49,741, Bitcoin found support at the 23.6% FIB of $50,473.

Bitcoin and Crypto market

The Rest of the Pack

It has been a mixed morning.

Crypto.com Coin bucked the morning trend, rising by 0.80%.

The rest of the crypto majors have struggled, however.

Chainlink and Polkadot led the way down, sliding by 5.99% and by 5.39% respectively.

Binance Coin (-4.61%), Cardano’s ADA (-4.19%), Ethereum (-3.67%), Litecoin (-3.68%), and Ripple’s XRP (-4.56%) also struggled

Bitcoin Cash SV saw a more modest 2.35% loss, however.

Through the early hours, the crypto total market cap rose to an early morning high $2,237bn before falling to a low $2,151bn. At the time of writing, the total market cap stood at $2,187bn.

Bitcoin’s dominance fell to an early morning low 43.34% before rising to a high 44.37%. At the time of writing, Bitcoin’s dominance stood at 44.32%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall back through the $50,832 pivot to bring the first major resistance level at $52,598 back into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $52,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $53,000 would likely cap any upside.

In the event of an extended rally through the afternoon, Bitcoin could test resistance at the $55,000 levels before any pullback. The second major resistance level sits at $53,689.

A fall through the $50,832 pivot would bring 23.6% FIB of $50,473 and the first major support level at $49,741 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should avoid sub-$49,000 support levels. The second major support level sits at $47,975.

Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and 200 EMAs through the morning.

We also saw the 100 EMA pull away from the 200 EMA providing further support.

Through the 2nd half of the day, a further widening of the 50 EMA from the 100 would bring $55,000 levels into play.

Key through the late morning and early afternoon, however, would be to avoid the $50,832 pivot.