The Crypto Daily – Movers and Shakers – September 30th, 2020

Bitcoin, BTC to USD, rose by 1.33% on Tuesday. Reversing a 0.83% loss from Monday, Bitcoin ended the day at $10,856.0.

It was a mixed start to the day. Bitcoin fell to an early morning low $10,674.2 before finding support.

Steering clear of the major support levels, Bitcoin struck a late morning high $10,815.4 before hitting reverse.

Coming up short of the major resistance levels, Bitcoin slid to a late afternoon intraday low $10,654.0.

Steering clear of the first major support level at $10,585, Bitcoin rallied to a final hour intraday high $10,889.0.

Falling short of the first major resistance level at $10,915, Bitcoin eased back to end the day at sub-$10,860 levels.

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 Tuesday.

Chainlink (-1.19%), Crypto.com Coin (-1.92%), and Polkadot (-0.36%) bucked the trend on the day.

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

Binance Coin rallied by 7.20% to lead the way.

Bitcoin Cash SV (+1.74%), Cardano’s ADA (+1.09%), Ethereum (+1.76%), Litecoin (+1.08%) also found solid support.

Bitcoin Cash ABC (0.11%) and Ripple’s XRP (+0.83%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $321.20bn before rising to a Tuesday high $341.14bn. At the time of writing, the total market cap stood at $337.21bn.

Bitcoin’s dominance rose to a Monday high 61.23% before falling to a Tuesday low 58.93%. At the time of writing, Bitcoin’s dominance stood at 59.31%.

This Morning

At the time of writing, Bitcoin was down by 0.28% to $10,826.0. It was a mixed start to the day. Bitcoin rose to an early morning high $10,866.0 before falling to a low $10,826.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash ABC (+0.54%), Bitcoin Cash SV (+0.62%), and Crypto.com Coin (+0.65%) bucked the trend early on.

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

At the time of writing, Binance Coin was down by 1.18% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $10,800 to bring the first major resistance level at $10,945 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $10,900 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $11,000 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,035 and resistance at $11,100 levels before any pullback.

Failure to avoid a fall through the $10,800 pivot would bring the first major support level at $10,710 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,600 levels. The second major support level sits at $10,565.

This article was originally posted on FX Empire

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