The Crypto Daily – Movers and Shakers -05/11/19

While Bitcoin sees red, Stellar’s Lumen is on the charge in the early hours, following a 15% jump on Monday…
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rose by 2.35% on Monday. Reversing a 1.18% loss from Sunday, Bitcoin ended the day at $9,440.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $9,152.00 before making a move.

Holding above the first major support level at $9,081.4, Bitcoin rallied to a late intraday high $9,645.00

Bitcoin broke through the first major resistance level at $9,382.00 and the second major resistance level at $9,541.6.

A late pullback to sub-$9,500 levels limited the upside on the day.

For the bulls, the extended bullish trend remained intact in spite of failing to break back through the 38.2% FIB of $9,734. Bitcoin has continued to hold above the 62% FIB of 7,245.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors on Monday.

Bitcoin Cash ABC bucked the trend on the day, with a 0.69% loss.

Bullish for the rest of the pack, Stellar’s Lumen led the way rallying by 15%, which reversed a 4.77% slide from Sunday on the way.

EOS (+5.51%), and Litecoin (+5.23%) also saw solid gains on the day.

Binance Coin (+2.33%), Bitcoin Cash SV (+2.25%), Ethereum (+2.49%), Ripple’s XRP (+3.15%), and Tron’s TRX (+2.12%) saw more modest gains on the day.

At the start of the week, the total crypto market cap rose from a low $246.06bn to a Monday high $253.4 before easing back. At the time of writing, the total market cap stood at $250.45bn.

Bitcoin’s dominance held steady 67% levels on the day, while trading volumes bounced back from $70bn levels to hit $88bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.2% to $9,421.3. A relatively bearish start to the day saw Bitcoin fall from an early morning high $9,442.0 to a low $9,402.2.

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

Elsewhere, Stellar’s Lumen continued its rally, surging by 6.63% within the first hour of the day.

Ripple’s XRP (+1.23%), Litecoin (+0.29%), and Binance Coin (+0.16) also found support.

It was a bearish start for the rest of the pack, however. Bitcoin Cash SV and Bitcoin Cash ABC led the way down, with losses of 1.23% and 0.70% respectively.

EOS (-0.53%), Ethereum (-0.45%), and Tron’s TRX (-0.21%) saw modest losses early on.

[fx-image src=https://www.tradingview.com/x/PLvOGPhK/ originalWidth=761 ratio=1.23 data-zoom-target=https://www.tradingview.com/x/PLvOGPhK/]

For the Bitcoin Day Ahead

Bitcoin would need to steer clear of sub-$9,420 levels to support a run at the first major resistance level at $9,672.67.

Support from the broader market would be needed, however, for Bitcoin to break through Monday’s high $9,645.0.

Barring a broad-based crypto rebound, resistance at $9,500 levels would likely limit any upside on the day.

In the event of another broad-based crypto rally, Bitcoin could take a run at the 38.2% FIB of $9,734 before any pullback.

Failure to steer clear of sub-$9,420 levels could see Bitcoin fall deeper into the red.

A fall through to $9,300 levels would bring the first major support level at $9,179.67 into play.

Barring a crypto meltdown, however, we would expect Bitcoin to steer clear of sub-$9,000 support levels on the day.

Most Recent

Top Articles

Popular

9289.0
+120.51
+1.31438%
181.14
+0.6500
+0.36013%
0.2969
+0.0040
+1.36565%
254.22
-2.9100
-1.13172%
EOSEOS
3.1550
-0.0020
-0.06335%
57.360
+1.0900
+1.93709%