The Crypto Daily – Movers and Shakers – March 15th, 2021

Bitcoin, BTC to USD, fell by 3.60% on Sunday. Partially reversing a 6.82% rally from Saturday, Bitcoin ended the week up by 15.66% to $59,000.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high and a new swing hi $61,699.0 before hitting reverse.

Falling short of the first major resistance level at $63,221, Bitcoin slid to an end of day intraday low $59,000.

In spite of the reversal, Bitcoin avoided the first major support level at $57,658 on the day.

The near-term bullish trend remained intact supported by Sunday’s new swing hi $61,699.0. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot rose by 1.75% to buck the trend early on.

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

Bitcoin Cash SV slid by 8.90% to lead the way down, with Litecoin ending the day down by 5.30%.

Binance Coin (-4.56%), Cardano’s ADA (-4.21%) and Chainlink (-4.02%), Crypto.com Coin (-3.60%), Ethereum (-3.79%), and Ripple’s XRP (-4.09%) also struggled.

For the week, it was also a mixed week for the majors.

Polkadot slid by 10.34% to lead the way down.

Cardano’s ADA (-6.72%), Chainlink (-0.24%), and Ripple’s XRP (-5.63%) also saw red.

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

Crypto.com Coin jumped by 18.13% to lead the way, with Litecoin rallying by 12.20%.

Binance Coin (+9.81%), Bitcoin Cash SV (+5.60%), and Ethereum (+7.00%) also made relatively solid gains.

In the week, the crypto total market fell to a Monday low $1,508bn before rising to a Saturday high $1,860bn. At the time of writing, the total market cap stood at $1,774bn.

Bitcoin’s dominance fell to a Tuesday low 60.13% before rising to a Sunday high 63.36%. At the time of writing, Bitcoin’s dominance stood at 62.77%.

This Morning

At the time of writing, Bitcoin was up by 0.93% to $59,548.0. A mixed start to the day saw Bitcoin fall to an early morning low $58,555.0 before rising to a high $59,844.5.

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 0.44% to buck the trend early on.

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

At the time of writing, Crypto.com Coin was up by 2.23% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $59,900 to bring the first major resistance level at $60,799 into play.

Support from the broader market would be needed for Bitcoin to break back through to $60,000 levels.

Barring an extended crypto rally, the first major resistance level and Sunday’s new swing hi $61,699.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $63,000. The second major resistance level sits at $62,599.

Failure to move through the $59,900 pivot would bring the first major support level at $58,100 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear sub-$58,000 levels. The second major support level sits at $57,201.