The Crypto Daily – Movers and Shakers – November 16th, 2021

Bitcoin, BTC to USD, fell by 2.92% on Monday. Reversing a 1.68% gain from Sunday, Bitcoin ended the day at $63,561.0.

A bullish start to the day saw Bitcoin rise to a late morning intraday high $66,343.9 before hitting reverse.

Bitcoin broke through the first major resistance level at $66,111 before sliding to a late intraday low $63,351.0

Bitcoin fell through the first major support level at $64,201.

Steering clear of sub-$63,000 support levels, Bitcoin revisited $63,900 levels before easing back.

The near-term bullish trend remained intact, supported by last Wednesday’s ATH $68,958.

The Rest of the Pack

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

Crypto.com Coin rose by 5.97% to buck the trend at the start of the week.

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

Chainlink and Litecoin slid by 5.18% and by 5.85% respectively to lead the way down.

Binance Coin (-2.56%), Bitcoin Cash SV (-2.46%), Ethereum (-1.33%), and Ripple’s XRP (-1.51%) also struggled.

Cardano’s ADA (-1.04%) and Polkadot (-0.64%) saw relatively modest losses on the day, however.

Early in the week, the crypto total market rose to a Monday high $2,870bn before falling to an early Tuesday low $2,713bn. At the time of writing, the total market cap stood at $2,728bn.

Bitcoin’s dominance rose to a Monday high 43.92% before falling to a Monday low 43.26%. At the time of writing, Bitcoin’s dominance stood at 43.46%.

This Morning

At the time of writing, Bitcoin was down by 1.16% to $62,825.0. A bearish start to the day saw Bitcoin fall from an early morning high $63,562.0 to a low $62,555.0.

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, rising by 1.22%.

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

At the time of writing, Chainlink was down by 2.69% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $64,419 pivot to bring the first major resistance level at $65,486 into play.

Support from the broader market would be needed for Bitcoin to move back through to $65,000 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $68,000 levels before easing back. The second major resistance level sits at $67,412.

Failure to move through the $64,419 pivot would bring the first major support level at $62,493 back into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels. The second major support level at $61,426 should limit the downside.