The Crypto Daily – Movers and Shakers – April 27th, 2021

It’s a mixed start to the day for the majors. A Bitcoin move through to $55,000 levels would support another breakout day for the broader market.
Pattern of coins LTC, ETH, BTC, XMR, XRP on a dark background. Business concept.

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Bitcoin, BTC to USD, rallied by 10.12% on Monday. Reversing a 2.03% fall from Sunday, Bitcoin ended the day at $54,102.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $48,831.0 before making a move.

Steering clear of the first major support level at $47,270, Bitcoin rallied to a late afternoon intraday high $54,387.0.

Bitcoin broke through the first major resistance level at $50,829 and the second major resistance level at $52,530.

More significantly, Bitcoin also broke back through the 23.6% FIB of $50,473.

Falling short of $55,000 levels, Bitcoin fell back through to sub-$53,000 levels before ending the day at $54,100 levels.

The near-term bullish trend remained intact in spite of the latest reversal. 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 bullish day on Monday.

Ripple’s XRP jumped by 31.66% to lead the way, with Cardano’s ADA rallying by 13.48%.

Bitcoin Cash SV (+7.69%), Chainlink (+10.96%), Ethereum (+9.11%), and Litecoin (+10.43%) also found strong support.

Binance Coin (+5.99%), Crypto.com Coin (+5.87%), and Polkadot (+1.77%) trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $1,778bn before rising to a high $2,008bn. At the time of writing, the total market cap stood at $1,962.

Bitcoin’s dominance rose to a Monday high 51.73% before falling to a Monday low 50.65%. At the time of writing, Bitcoin’s dominance stood at 51.20%.

This Morning

At the time of writing, Bitcoin was .

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV and Polkadot were up by 2.98% and by 1.06% respectively to buck the trend early on.

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

At the time of writing, Binance Coin was down by 1.68% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $52,440 pivot to bring the first major resistance level at $56,049 into play.

Support from the broader market would be needed for Bitcoin to break out from $55,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $57,996.

Failure to avoid a fall through the $52,440 would bring the first major support level at $50,493 and the 23.6% FIB of $50,473 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$49,000 levels. The second major support level sits at $46,884.

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