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

It’s a mixed start to the day for the majors. A Bitcoin move back through to $64,500 levels would support the broader market.
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Bitcoin, BTC to USD, fell by 0.95% on Wednesday. Partially reversing a 6.09% gain from Tuesday, Bitcoin ended the day at $62,914.0.

A bullish start to the day saw Bitcoin rise to a mid-morning intraday high and a new swing hi $64,829.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $64,775 before falling to a late intraday low $61,306.0.

Steering clear of the first major support level at $61,078, Bitcoin moved back through to $62,900 levels to reduce the deficit on the day.

The near-term bullish trend remained intact supported by the latest move through to $64,000 levels. For the bears, Bitcoin would need to slide 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 Wednesday.

Binance Coin (-0.22%) and Polkadot (-0.02%) saw red to buck the trend alongside Bitcoin on the day.

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

Bitcoin Cash SV  and Chainlink rallied by 11.94% and by 16.45% respectively to lead the way.

Crypto.com Coin (+5.63%), Ethereum (+5.76%), and Litecoin (+4.14%) also made solid gains.

Cardano’s ADA (+2.84%) and Ripple’s XRP (+2.30%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $1,959bn before rising to a Wednesday high $2,259bn. At the time of writing, the total market cap stood at $2,170bn.

Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Wednesday low 53.68%. At the time of writing, Bitcoin’s dominance stood at 54.41%.

This Morning

At the time of writing, Bitcoin up by 0.32% to $63,115.0. A bullish start to the day saw Bitcoin rise from an early morning low $62,907.0 to an early morning high $63,327.0.

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

Elsewhere, it was a mixed start to the day.

Ethereum (+0.43%) and Crypto.com Coin (+3.07%) joined Bitcoin in the green to buck the trend early on.

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

At the time of writing, Ripple’s XRP was down by 1.29% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $63,016 to bring the first major resistance level at $64,727 into play.

Support from the broader market would be needed for Bitcoin to break out from $64,500 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s new swing hi $64,829.0 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $68,000 before any pullback. The second major resistance level sits at $66,539.

Failure to avoid a fall back through the $63,016 pivot would bring the first major support level at $61,204 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels. The second major support level sits at $59,493.

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