Advertisement
Singapore markets close in 5 hours 28 minutes

  • Straits Times Index

    3,156.42
    -31.24 (-0.98%)
     

  • Nikkei

    36,818.81
    -1,260.89 (-3.31%)
     

  • Hang Seng

    16,094.61
    -291.26 (-1.78%)
     

  • FTSE 100

    7,877.05
    +29.06 (+0.37%)
     

  • Bitcoin USD

    62,019.98
    +72.73 (+0.12%)
     

  • CMC Crypto 200

    1,276.13
    +390.59 (+42.42%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • Dow

    37,775.38
    +22.07 (+0.06%)
     

  • Nasdaq

    15,601.50
    -81.87 (-0.52%)
     

  • Gold

    2,401.20
    +3.20 (+0.13%)
     

  • Crude Oil

    84.92
    +2.19 (+2.65%)
     

  • 10-Yr Bond

    4.6470
    +0.0620 (+1.35%)
     

  • FTSE Bursa Malaysia

    1,549.39
    +4.63 (+0.30%)
     

  • Jakarta Composite Index

    7,051.07
    -115.75 (-1.62%)
     

  • PSE Index

    6,429.54
    -93.65 (-1.44%)
     

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

Bob Mason
·3-min read

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.

ADVERTISEMENT

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.

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.

This article was originally posted on FX Empire

More From FXEMPIRE: