The Crypto Daily – Movers and Shakers -17/09/19

Bitcoin continues to trail as Ethereum takes flight at the start of the week. An early bounce suggests that there’s more upside to come for Ethereum.
Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin fell by 0.31% on Monday. Following on from a 0.58% fall on Sunday, Bitcoin ended the day at $10,290.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $10,404.

Bitcoin broke through the first major resistance level at $10,391 before hitting reverse.

The reversal saw Bitcoin slide to a mid-day intraday low $10,091. Bitcoin fell through the first major support level at $10,263 and second major support level at $10,205.

Steering clear of the third major support level at $10,077, Bitcoin bounced back to a late high $10,400. The late rally saw Bitcoin break back through the first major resistance level at $10,391 before sliding back into the red.

For the bulls, the extended bullish trend remained intact. Bitcoin continues to hold above the 38.2% FIB of $9,734 after the early September rebound.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a largely bullish day for the majors.

Monero’s XMR and Binance Coin bucked the trend on the day, falling by 0.71% and 0.25% respectively.

It was green for the rest of the majors, with Ethereum leading the way with a 4.37% gain.

Litecoin and Bitcoin Cash SV also saw solid gains, rising by 3.74% and 2.44% respectively.

Bitcoin Cash ABC (0.82%), EOS (+0.33%), Ripple’s XRP (+0.59%), and Stellar’s Lumen (+0.12%) trailed the front runners.

At the start of the week, the total crypto market cap fell from a high $268.13bn to a low $263.3bn on Monday. At the time of writing, the total crypto market cap stood at $266.08bn.

Bitcoin’s dominance also eased back to 69.3%, having hit 70.9% last week, with 4 consecutive days in the red pinning Bitcoin back.

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This Morning

At the time of writing, Bitcoin was down by 0.15% to $10,275. Monday’s late pullback into the red continued into the early hours of this morning. Bitcoin fell from the start of a day high $10,296 to a low $10,260.

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

Elsewhere, Ripple’s XRP (-0.02%), Monero’s XMR (-0.4%), Litecoin (-0.11%), EOS (-0.38%), and Binance Coin (-0.20%) also struggled at the start of the day.

Ethereum and Stellar’s Lumen saw early gains, rising by 0.50% and by 0.67% respectively.

Bitcoin Cash ABC led the way at the start of the day, however, rallying by 1.2%

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For the Bitcoin Day Ahead

Bitcoin would need to steer clear of sub-$10,260 to support a run at the first major resistance level at $10,432.33.

With resistance at $10,400 having pinned Bitcoin back for 2 consecutive days, Bitcoin would need an early move through Monday’s high $10,404 to support a breakout.

Barring a broad-based crypto rally on the day, we would expect Bitcoin to come up short of $10,500 levels.

Failure to steer clear of sub-$10,260 would bring the first major support level at $10,119.33 into play.

Barring a crypto meltdown, Bitcoin should steer clear of sub-$10,000 support levels, however.

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