The Crypto Daily – Movers and Shakers – June 29th, 2021

After a mixed day for the majors on Monday, a Bitcoin move through to $35,500 levels would deliver support to the broader market.
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Bitcoin, BTC to USD, fell by 0.72% on Monday. Partially reversing a 7.41% rally from Sunday, Bitcoin ended the day at $34,494.5.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $35,319.0 before hitting reverse.

Falling short of the first major resistance level at $35,670, Bitcoin fell to a mid-day intraday low $33,897.0.

Steering clear of the first major support level at $32,942, Bitcoin revisited $35,000 levels before falling back into the red.

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 mixed day on Monday.

Binance Coin (-0.32%), Cardano’s ADA (-0.89%), and Ripple’s XRP (-0.75%) joined Bitcoin in the red.

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

Bitcoin Cash SV surged by 29.96% to lead the way.

Chainlink (+2.24%), Crypto.com Coin (+6.06%), Ethereum (+4.99%), Litecoin (+3.81%), and Polkadot (+5.79%) also found strong support.

Early in the week, the crypto total market fell to a Monday low $1,342bn before rising to a Monday high $1,420bn. At the time of writing, the total market cap stood at $1,384bn.

Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Monday low 46.60%. At the time of writing, Bitcoin’s dominance stood at 47.79%.

This Morning

At the time of writing, Bitcoin was up by 0.18% to $34,556.0. A mixed start to the day saw Bitcoin fall to an early morning low $34,411.0 before rising to a high $34,750.9.

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, Litecoin was up by 1.75% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the $34,570 pivot to bring the first major resistance level at $35,243 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 and Monday’s high $35,319.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $37,000. The second major resistance level sits at $35,992.

Failure to move through the $34,570 pivot would bring the first major support level at $33,821 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level at $33,148 should limit the downside.

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