The Crypto Daily – Movers and Shakers – December 15th, 2020

It’s a mixed start to the day for the majors. A Bitcoin move through to $19,400 levels would support the pack.
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Bitcoin, BTC to USD, rose by 0.53% on Monday. Following on from a 1.92% gain on Sunday, Bitcoin ended the day at $19,282.0.

It was a mixed start to the day. Bitcoin slipped to an early morning intraday low $19,008.3 before making a move.

Steering clear of the first major support level at $18,795, Bitcoin rallied to an early morning intraday high $19,350.0.

Falling short of the first major resistance level at $19,490, Bitcoin slipped back into the red.

Finding late support, however, Bitcoin moved back through to $19,200 levels to end the day in the green.

The near-term bullish trend remained intact, supported by the latest recovery to $19,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed start to the week.

Cardano’s ADA (+3.21%), Binance Coin (+3.09%), and Litecoin (+0.19%) joined Bitcoin in the green.

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

Ripple’s XRP fell by 3.00% to lead the way down.

Bitcoin Cash SV (-0.50%), Chainlink (-0.71%), Crypto.com Coin (-0.33%), Ethereum (-0.69%), and Polkadot (-0.42%) also saw red.

For the current week, the crypto total market cap fell to a Monday low $545.05bn before rising to a Tuesday high $559.23bn. At the time of writing, the total market cap stood at $559.03bn.

Bitcoin’s dominance fell to a Monday low 64.21% before rising to a Monday high 64.56%. At the time of writing, Bitcoin’s dominance stood at 64.44%.

This Morning

At the time of writing, Bitcoin was up by 0.43% to $19,365.0. A mixed start to the day saw Bitcoin fall to an early morning low $18,265.0 before rising to a high $19,389.0.

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

Elsewhere, it was a mixed start to the day.

Polkadot was down by 0.21% to buck the trend early on.

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

At the time of writing, Crypto.com Coin was up by 2.97% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $19,213 to bring the first major resistance level at $19,419 into play.

Support from the broader market would be needed for Bitcoin to break out from the morning high $19,389.0.

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

In the event of an extended crypto rally, the second major resistance level at $19,555 and $19,700 levels could come into play.

Failure to avoid a fall through the $19,213 pivot would bring the first major support level at $19,077 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $18,872.

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