The Crypto Daily – Movers and Shakers – June 24th, 2021

While the broader market found early support, Bitcoin saw red at the start of the day. A Bitcoin move through to $35,000 levels would signal a breakout, however.
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Bitcoin, BTC to USD, rose by 3.44% on Wednesday. Following on from a 2.68% gain on Tuesday, Bitcoin ended the day at $33,691.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $31,790.0 before making a move.

Steering clear of the first major support level at $30,090, Bitcoin rallied to an early afternoon intraday high $34,778.0.

Bitcoin broke through the first major resistance level at $34,211 before falling back to sub-$33,000 levels.

Finding late support, however, Bitcoin move back through to $33,000 levels to deliver the upside on the day.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 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 bullish day for the majors on Wednesday.

Ripple’s XRP jumped by 16.72% to lead the way, with Binance Coin gaining 12.98%.

Cardano’s ADA (+8.18%), Chainlink (+9.30%), and Litecoin (+7.86%) also found strong support.

Bitcoin Cash SV (+6.08), Crypto.com Coin (+6.28%), Ethereum (+4.63%), and Polkadot (+3.88%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,127bn. At the time of writing, the total market cap stood at $1,338bn.

Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.29%. At the time of writing, Bitcoin’s dominance stood at 47.00%.

This Morning

At the time of writing, Bitcoin was down by 0.20% to $33,622.0. A mixed start to the day saw Bitcoin rise to an early morning high $33,869.0 before falling to a low $33,516.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 3.22% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $33,420 pivot to bring the first major resistance level at $35,049 into play.

Support from the broader market would be needed for Bitcoin to break back through to $35,000 levels.

Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $37,000 before any pullback. The second major resistance level sits at $36,408.

A fall through the $33,420 pivot would bring the first major support level at $32,061 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $30,432.

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