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

Bitcoin, BTC to USD, rose by 2.21% on Sunday. Reversing a 0.78% fall from Saturday., Bitcoin ended the week down by 2.93% to $34,244.0.

A mixed start to the day saw Bitcoin fell to an early morning intraday low $33,316.0 before making a move.

Steering clear of the first major support level at $32,930, Bitcoin rallied to a late intraday high $34,590.0.

Bitcoin broke through the first major resistance level at $34,161 to end the day at $34,200 levels.

The near-term bullish trend remained intact, in spite of the latest return to $32,000 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.

Bitcoin Cash SV and Polkadot bucked the trend, falling by 0.26% and by 0.89% respectively.

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

Crypto.com Coin rallied by 7.02% to lead the way.

Binance Coin (+1.81%), Ethereum (+1.43%), and Ripple’s XRP (+1.43%) weren’t far behind.

Cardano’s ADA (+0.90%), Chainlink (+0.83%), and Litecoin (+0.17%) trailed the front runners, however.

It was also a mixed week for the majors.

Binance Coin and Crypto.com Coin rose by 2.60% and by 4.61% respectively to buck the trend.

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

Ripple’s XRP slid by 8.75% to lead the way down.

Bitcoin Cash SV (-6.74%), Cardano’s ADA (-7.74%), Chainlink (-4.66%), Ethereum (-7.85%), and Litecoin (-7.37%) also struggled.

Polkadot fell by a modest 0.20%, however.

In the week, the crypto total market rose to a Wednesday high $1,476bn before falling to a Friday low $1,313bn. At the time of writing, the total market cap stood at $1,369bn.

Bitcoin’s dominance fell to a Thursday low 44.48% before rising to a Sunday high 46.22%. At the time of writing, Bitcoin’s dominance stood at 45.96%.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $34,163.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,360.0 before falling to a low $34.094.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend at the start of the day, rising by 1.11%.

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

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

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $34,050 pivot to bring the first major resistance level at $34,784 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $34,590.0.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $35,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 levels before any pullback. The second major resistance level sits at $35,324.

A fall through the $34,050 pivot would bring the first major support level at $33,510 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level sits at $32,776.

This article was originally posted on FX Empire

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