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Home›Crypto›The Crypto Daily – Movers and Shakers – September 22, 2021

The Crypto Daily – Movers and Shakers – September 22, 2021

By Wanda M. Luce
September 22, 2021
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Bitcoin, BTC to USD, fell 5.29% on Tuesday. After falling 8.93% on Monday, Bitcoin ended the day at $ 40,748.0.

A bearish start to the day saw Bitcoin slide to an early morning low of $ 40,255.0.

Bitcoin fell through the FIB 38.2% of $ 41,592 and the first major support level to $ 41,286.

Finding early support, Bitcoin hit an intraday high of $ 43,625.0 late in the morning before reversing.

However, well below the first major resistance level at $ 46,046, Bitcoin fell to an intraday low of $ 39,678.0.

Bitcoin fell back through the FIB 38.2% from $ 41,592 and the first major support level to $ 41,286.

However, avoiding the second major support level at $ 39,546, Bitcoin ended the day at $ 40,700.

The short-term uptrend has remained intact, despite the latest return to levels below $ 40,000. For bears, Bitcoin would need a sustained decline through the 62% FIB of $ 27,237 to form a short-term downtrend.

The rest of the pack

In the rest of the majors, the day was mixed on Tuesday.

Bitcoin Cash SV rose 3.08% to reverse the trend for the day.

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

Chainlink slipped 9.10% to lead the way on the downside, with Ethereum (-7.08%) also struggling.

Binance Coin (-5.47%), Cardano’s ADA (-4.64%), Crypto.com Coin (-1.15%), Litecoin (-5.50%), Polkadot (-1.53%) and Ripple’s XRP (-5.22%) saw relatively modest losses however.

At the start of the week, the total crypto market peaked at $ 2.136 billion on Monday before dropping to a low on Tuesday of $ 1.743 billion. At the time of writing, the total market cap was $ 1.824 billion.

Bitcoin’s dominance peaked at 42.97% on Monday before falling to a low of 41.37% on Tuesday. At the time of writing this article, Bitcoin’s dominance stands at 42.36%.

This morning

At the time of writing, Bitcoin was up 0.95% to $ 41,134.0. A mixed start to the day saw Bitcoin drop to an early morning low of $ 40,636.0 before climbing to $ 41,494.0.

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin fell 7.46% to reverse the initial trend.

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

As of this writing, Cardano’s ADA was up 1.74% to lead the way.

For Bitcoin Day Ahead

Bitcoin would need to break through the $ 41,350 38.2% FIB pivot of $ 41,592 to bring into play the first major resistance level at $ 43,023.

Broad market support would be needed for Bitcoin to return to levels of $ 43,000.

Barring a full-scale crypto rally, the first major resistance level and Tuesday’s high of $ 43,625.0 would likely cap the upside.

In the event of a widespread crypto rebound, Bitcoin could test resistance at levels of $ 45,000 before any pullback. The second major resistance level is located at $ 45,297.

Failure to break through the $ 41,350 pivot and 38.2% FIB of $ 41,592 would bring into play the first major support level at $ 39,076.

Unless another extended sell off that day, Bitcoin is expected to avoid the second major support level at $ 37,403.

This article originally appeared on FX Empire

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