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The Crypto Daily – Movers and Shakers – September 26th, 2020

Bob Mason
·3 mins read

Bitcoin, BTC to USD, slipped by 0.41% on Friday. Following a 4.75% rally on Thursday, Bitcoin ended the day at $10,708.0.

It was a bearish start to the day. Bitcoin fell from an early morning intraday high $10,774.0 to an early afternoon intraday low $10,580.0.

Steering clear of the first major support level at $10,370, Bitcoin recovered to match the intraday high $10,774.

Falling short of the first major resistance level at $10,990, however, Bitcoin eased back to sub-$10,750 and into the red.

The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Cardano’s ADA led the way, surging by 17.41%.

Chainlink and Ripple’s XRP also found strong support, with the pair rising by 8.67% and by 3.73% respectively.

Binance Coin (+0.41%), Bitcoin Cash ABC (+0.79%), Crypto.com Coin (+1.59%), Ethereum (+0.85%), Litecoin (+2.38%), and Polkadot (+1.23%) also found support.

Bitcoin Cash SV joined Bitcoin in the red, however, falling by 1.96%.

In the current week, the crypto total market rose to a Monday high $334.04bn before sliding to a Wednesday low $300.97bn. At the time of writing, the total market cap stood at $323.67bn.

Bitcoin’s dominance fell to a Monday low 60.89% before rising to a Wednesday high 62.31%. At the time of writing, Bitcoin’s dominance stood at 61.07%.

This Morning

At the time of writing, Bitcoin was down by 0.07% to $10,700.4. A mixed start to the day saw Bitcoin rise to an early morning high $10,731.0 before falling to a low $10,693.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.34%), Bitcoin Cash ABC (-0.15%), Ethereum (-0.06%), and Polkadot (-0.14%) saw red early on.

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

At the time of writing, Cardano’s ADA was up by 1.73% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,687 pivot level to support a run at the first major resistance level at $10,795.

Support from the broader market would be needed, however, for Bitcoin to break out from Friday’s high $10,744.0.

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

In the event of a crypto breakout, Bitcoin could test resistance at $11,000 before any pullback. The second major resistance level at $10,881 would likely cap any upside, however.

Failure to avoid a fall through the $10,687 pivot would bring the first major support level at $10,601 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,500 levels. The second major support level sits at $10,493.

This article was originally posted on FX Empire

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