The Crypto Daily Movers and Shakers October 2nd, 2021

The Crypto Daily – Movers and Shakers – October 2nd, 2021

Join @TechnicalATG

Bitcoin, BTC to USD, jumped by 9.86% on Friday. Following a 5.52% rally on Thursday, Bitcoin ended the day at $48,151.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $43,311.0 before making a move.

Join @TechnicalATG

Steering clear of the first major support level at $42,134, Bitcoin rallied to a late intraday high $48,464.0.

The rally saw Bitcoin break through the first major resistance level at $44,824 and the second major resistance level at $45,818

Coming up against the third major resistance level at $48,508, however, Bitcoin eased back to end the day at sub-$48,200 levels.

Join @TechnicalATG

The near-term bullish trend remained intact, supported the latest return to sub-$48,000 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 on Friday.

Join @TechnicalATG

Ethereum jumped by 10.33% to lead the way.

Binance Coin (+8.80%), Bitcoin Cash SV (+8.47%), Chainlink (+9.82%), Crypto.com Coin (+9.77%), Litecoin (+8.42%), and Ripple’s XRP (+9.29%) also found strong support.

Cardano’s ADA (+6.72) and Polkadot (+1.62%) trailed the front runners, however.

In the current week, the crypto total market fell to a Wednesday low $1,808bn before rising to a Friday high $2,160bn. At the time of writing, the total market cap stood at $2,107bn.

Bitcoin’s dominance fell to a Thursday low 41.77% before rising to a Friday high 43.06%. At the time of writing, Bitcoin’s dominance stood at 42.65%.

This Morning

At the time of writing, Bitcoin was down by 0.76% to $47,784.0. A mixed start to the day saw Bitcoin rise to an early morning high $48,230.0 before falling to a low $47,702.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the early trend, rising by 0.57%.

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

At the time of writing, Binance Coin was down by 1.28% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $46,642 pivot to bring the first major resistance level at $49,973 into play.

Support from the broader market would be needed for Bitcoin to break out from Friday’s high $48,464.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at the 23.6% FIB of $50,473 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $53,000 levels before any pullback. The second major resistance level sits at $51,795.

A fall through the $46,642 would bring the first major support level at $44,820 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$44,000 and the 38.2% FIB of $41,592. The second major support level sits at $41,489.

This article was originally posted on FX Empire

bitcoin,bitcoin news,bitcoin price prediction,bitcoin news today,bitcoin crash,bitcoin price,bitcoin today,bitcoin price prediction 2021,bitcoin analysis,bitcoin prediction,bitcoin trading,bitcoin breakout,buy bitcoin,bitcoin explained,bitcoin bottom,bitcoin mining,bitcoin update,bitcoin crash today,bitcoin india update,bitcoin crash 2021,bitcoin ta,bitcoin crash coming,altcoin,bitcoin price analysis,bitcoin china,bitcoin investment

Be the first to comment

Leave a Reply

Your email address will not be published.


*