The Crypto Daily – Movers and Shakers -15/10/19

It’s a mixed start to the day for the majors. A Bitcoin move back through to $8,400 levels would signal a bullish day ahead.
Cryptomania

Bitcoin rose by 0.78% on Monday. Reversing a 0.19% fall from Sunday, Bitcoin ended the day at $8,370.

A mixed start to the day saw Bitcoin fall to an early morning low $8,254 before finding support.

Steering clear of the major support levels, Bitcoin struck a mid-morning high $8,343.6.

Falling well short of the first major resistance level at $8,468.47, Bitcoin fell back to a late afternoon intraday low $8,227.3.

Holding above the first major support level at $8,150.87, Bitcoin bounced back to an intraday high $8,428.2.

Bitcoin fell short of the first major resistance level for a 2nd time before sliding back to sub-$8,300 levels.

Finding late support from the broader market, Bitcoin recovered to $8,300 levels to end the day in the green.

For the bulls, the extended bullish trend remained intact in spite of hovering at sub-$9,000 levels. While falling back through the 38.2% FIB, Bitcoin 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 sea of green at the start of the week.

Stellar’s Lumen and Ripple’s XRP led the way on the day, with gains of 8.4% and 7.3% respectively.

Ethereum (+3.16%), Bitcoin Cash ABC (+1.90%), EOS (+1.84%), and Binance Coin (+1.20%) also found support.

Bitcoin Cash SV (+1.02%) and Litecoin (+0.71%) trailed the pack on the day.

For the day, the total crypto market cap rose from a Monday low $223.92bn to a high $228.17bn before easing back. At the time of writing, the total market cap stood at $227.13bn.

Bitcoin’s dominance continued to sit at sub-67% levels with the likes of Stellar’s Lumen and Ripple’s XRP pinning Bitcoin back.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $8,347.8. A bullish start to the day saw Bitcoin rise to an early morning high $8,439.7 before falling to a low $8,344.3.

Bitcoin came within range of the first major resistance level at $8,456.37, whilst steering clear of the major support levels.

Elsewhere, Bitcoin Cash ABC and Litecoin bucked the trend early on, with gains of 0.24% and 0.23% respectively.

It was red for the rest of the pack, with EOS leading the way down, with a loss of 0.87%.

[fx-image src=https://www.tradingview.com/x/h73m8hqR/ originalWidth=761 ratio=1.3 data-zoom-target=https://www.tradingview.com/x/h73m8hqR/]

For the Bitcoin Day Ahead

For the day ahead, Bitcoin would need to steer clear of sub-$8,340 levels to support a rebound.

A move back through to $8,400 levels would bring the first major resistance level at $8,456.37 into play.

Bitcoin would need the support of the broader market, however, to break through the first major resistance level.

Barring a broad-based crypto rebound, the morning high and first major resistance level would likely cap any upside.

Failure to steer clear of sub-$8,340 levels could see Bitcoin test the first major support level at $8,255.47.

Barring an extended sell-off through the day, however, Bitcoin should steer clear of sub-$8,100 levels.

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