The Crypto Daily – Movers and Shakers – December 13th, 2020

Bitcoin, BTC to USD, rallied by 4.25% on Saturday. Reversing a 1.17% fall from Friday, Bitcoin ended the day at $18,818.0.

It was a bullish start to the weekend. Bitcoin rallied from an early morning intraday low $18,049.9 to a late intraday high $18,944.0.

Bitcoin broke through the first major resistance level at $18,356 and the second major resistance level at $18,663.

Coming up against resistance at $19,000, Bitcoin eased back to end the day at sub-$18,900 levels.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot and Ripple’s XRP fell by 1.46% and by 8.21% to buck the trend on the day.

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

Litecoin rallied by 6.21% to lead the way.

Binance Coin (+2.99%), Cardano’s ADA (+3.76%), Chainlink (+4.79%), and Ethereum (+4.43%) also made solid gains.

Bitcoin Cash SV, (+1.28%) and Crypto.com Coin (+0.69%) saw relatively modest gains on the day, however.

In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Friday low $509.01bn. At the time of writing, the total market cap stood at $543.45bn.

Bitcoin’s dominance fell to a Wednesday low 63.03% before rising to a Saturday high 64.50%. At the time of writing, Bitcoin’s dominance stood at 64.44%.

This Morning

At the time of writing, Bitcoin was up by 0.30% to $18,875.0. A mixed start to the day saw Bitcoin dip to an early morning low $18,811.0 before rising to a high $18,877.0.

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

Elsewhere, it was a mixed start to the day

Bitcoin Cash SV was down by 0.20% to buck the trend early on.

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

At the time of writing, Chainlink was up by 1.53% to lead the pack.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $18,604 to bring the first major resistance level at $19,158 into play.

Support from the broader market would be needed for Bitcoin to break back through to $19,000 levels.

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

In the event of an extended crypto rally, the second major resistance level at $19,498 would likely come into play.

Failure to avoid a fall through the $18,604 pivot would bring the first major support level at $18,264 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,710.