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The Crypto Daily – Movers and Shakers – September 28th, 2021

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·3 min read
In this article:
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Bitcoin, BTC to USD, fell by 2.33% on Monday. Reversing a 1.11% gain from Sunday, Bitcoin ended the day at $42,181.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $44,356.0 before hitting reverse.

Falling short of the first major resistance level at $44,502, Bitcoin slid to a late intraday low $42,135.0.

Steering clear of the 38.2% FIB of $41,592 and the first major support level at $41,399, Bitcoin ended the day at $42,180 levels.

The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 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.

Chainlink slid by 6.32% to lead the way down.

Cardano’s ADA (-3.48%), Ethereum (-4.40%), and Litecoin (-3.66%) also struggled.

Binance Coin (-2.54%), Bitcoin Cash SV (-1.99%), Crypto.com Coin (-1.00%), Polkadot (-1.57%), and Ripple’s XRP (-2.24%) saw relatively modest losses.

Early in the week, the crypto total market rose to a Monday high $1,997bn before sliding to an early Tuesday low $1,880bn. At the time of writing, the total market cap stood at $1,902bn.

Bitcoin’s dominance fell to a Monday low 41.79% before rising to a Monday high 42.15%. At the time of writing, Bitcoin’s dominance stood at 41.94%.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $42,369.0. A mixed start to the day saw Bitcoin fall to an early morning low $42,000.0 before rising to a high $42,386.0.

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, falling by 2.60%.

It’s been a bullish start for the rest of the majors, however.

At the time of writing, Bitcoin Cash SV was up by 1.48% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $42,891 pivot to bring the first major resistance level at $43,646 into play.

Support from the broader market would be needed for Bitcoin to break out from $43,500 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $44,356 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $45,000 levels before any pullback. The second major resistance level sits at $45,112.

Failure to move through the $42,891 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,425 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000. The second major support level at $40,670 should limit the downside.

This article was originally posted on FX Empire

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