The Crypto Daily – The Movers and Shakers – November 10th, 2020

Bitcoin, BTC to USD, fell by 1.07% on Monday. Partially reversing a 4.38% rally from Sunday, Bitcoin ended the day at $15,334.5.

It was a mixed start to the day. Bitcoin fell to a late morning low $15,182 before making a move.

Steering clear of the first major support level at $14,953, Bitcoin rallied to a late morning intraday high $15,844.0.

Coming up against the first major resistance level at $15,848, Bitcoin slid to a late afternoon intraday low $14,841.0.

Bitcoin fell through the first major support level at $14,953 before a partial recovery to $15,300 levels.

The near-term bullish trend remained intact, supported by the latest move through to $15,000 levels. 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 Monday.

Polkadot bucked the trend at the start of the week, with a 0.44% gain.

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

Bitcoin Cash SV and Crypto.com Coin slid by 5.03% and by 4.50% to lead the way down.

Bitcoin Cash ABC (-3.38%), Ethereum (-2.16%), and Litecoin (-2.85%) also struggled.

Binance Coin (-1.26%), Cardano’s ADA (-0.87%), Chainlink (-1.69%), and Ripple’s XRP (-1.23%) saw relatively modest losses on the day.

For the week, the crypto total market cap rose to a Monday high $449.53bn before falling to a Monday low $423.81bn. At the time of writing, the total market cap stood at $443.58bn.

Bitcoin’s dominance rose to a Monday high 65.22% before falling to a low 64.70%. At the time of writing, Bitcoin’s dominance stood at 64.87%.

This Morning

At the time of writing, Bitcoin was down by 0.26% to $15,294.7. A mixed start to the day saw Bitcoin rise to an early morning high $15,350.0 before falling to a low $15,181.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA (+0.15%), Chainlink (+1.00%), Crypto.com Coin (+1.29%), Ethereum (+0.46%), and Litecoin (+0.19%) found early support.

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

At the time of writing, Binance Coin was down by 0.38% to lead the way down.

 

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $15,340 to bring the first major resistance level at $15,839 into play.

Support from the broader market would be needed for Bitcoin to break back through to $15,800 levels.

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

In the event of a crypto breakout, Bitcoin could test resistance at $16,000 before any pullback. The second major resistance level sits at $16,343.

Failure to move back through the $15,340 pivot would bring the first major support level at $14,836 into play.

Barring an extended crypto sell-off, Bitcoin should steer well clear of sub-$14,500 levels. The second major support level sits at $14,337.