The Crypto Daily – Movers and Shakers – July 13th, 2021

It’s a bearish start to the day after Monday’s pullback. Failure to move back through to $34,000 levels would test support for the broader market.
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Bitcoin, BTC to USD, fell by 3.42% on Monday. Reversing a 2.21% gain from Sunday, Bitcoin ended the day at $33,078.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $34,655.0 before hitting reverse.

Falling short of the first major resistance level at $34,784, Bitcoin slid to a late intraday low $32,600.0.

Bitcoin fell through the first major support level at $33,510 and the second major support level at $32,776.

Steering clear of sub-$32,000 levels, however, Bitcoin move back through the second major support level to end the day at $33,000 levels.

The near-term bullish trend remained intact, in spite of the latest return to $32,000 levels. For the bears, Bitcoin would need a sustained fall 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 bearish day on Monday.

Ethereum and Chainlink led the way down, sliding by 5.17% and by 4.48% respectively.

Binance Coin (-1.80%), Cardano’s ADA (-2.61%), and  Crypto.com Coin (-1.98%) also struggled.

Bitcoin Cash SV (-1.11%), Litecoin (-0.69%), Polkadot (-0.70%), and Ripple’s XRP (-0.80%) saw relatively modest losses, however

Early in the week, the crypto total market rose to a Monday high $1,408bn before falling to a Monday low $1,329bn. At the time of writing, the total market cap stood at $1,339bn.

Bitcoin’s dominance fell to a Monday low 45.85% before rising to a Monday high 46.27%. At the time of writing, Bitcoin’s dominance stood at 46.41%.

This Morning

At the time of writing, Bitcoin was down by 0.48% to $32,919.0. A mixed start to the day saw Bitcoin rise to an early morning high $33,129.0 before falling to a low $32,855.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 0.97% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $33,444 pivot to bring the first major resistance level at $34,289 into play.

Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $34,655.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 levels before any pullback. The second major resistance level sits at $35,499.

Failure to move through the $33,444 pivot would bring the first major support level at $32,234 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $31,389 should limit the downside.

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