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The Crypto Daily – Movers and Shakers – March 29th, 2021

Bitcoin, BTC to USD, slipped by 0.18% on Sunday. Partially reversing a 1.64% gain from Saturday, Bitcoin ended the week down by 2.72% to $55,780.0.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $56,609.0 before hitting reverse.

Falling short of the first major resistance level at $57,024, Bitcoin slid to a late intraday low $54,800.0.

Bitcoin fell through the first major resistance level at $54,379 before briefly revisiting $55,850 levels.

The near-term bullish trend remained intact in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 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.

Cardano’s ADA (+1.10%), Crypto.com Coin (+0.25%), Litecoin (+0.09%), and Ripple’s XRP (+0.05%) bucked the trend on the day.

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

Bitcoin Cash SV slid by 3.41% to lead the way down.

Binance Coin  (-0.23%), Chainlink (-0.72%), Ethereum (-1.58%), and Polkadot (-0.95%) also saw red on the day.

For the week, it was also a mixed week for the majors.

Binance Coin (+1.45%), Cardano’s ADA (+0.28%), and Ripple’s XRP (+5.89%) bucked the trend in the week.

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

Chainlink (-8.78%), Crypto.com Coin (-6.89%), and Polkadot (-9.62%) led the way down.

Bitcoin Cash SV (-2.19%), Ethereum (-5.45%), and Litecoin (-5.80%) also joined Bitcoin in the red.

In the week, the crypto total market rose to a Monday high $1,802bn before sliding to a Thursday low $1,517bn. At the time of writing, the total market cap stood at $1,703bn.

Bitcoin’s dominance rose to a Wednesday high 62.24% before falling to a Friday low 60.09%. At the time of writing, Bitcoin’s dominance stood at 60.91%.

This Morning

At the time of writing, Bitcoin was down by 0.39% to $55,563.0. A mixed start to the day saw Bitcoin rise to an early morning high $55,908.1 before falling to a low $55,563.0.

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

Elsewhere, it was a mixed start to the day.

Ripple’s XRP was up by 0.45% to buck the trend on the day.

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

At the time of writing, Crypto.com Coin was down by 1.39% to lead the way down.

BTCUSD 290321 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $55,730 to bring the first major resistance level at $56,659 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $56,609.0.

Barring an extended crypto rally, the first major resistance level and resistance at $57,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $58,000 before any pullback. The second major resistance level sits at $57,539.

Failure to move back through the $55,730 pivot would bring the first major support level at $54,850 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $53,921.