The Crypto Daily Movers and Shakers August 30th, 2020 – Yahoo Finance

Bitcoin, BTC to USD, fell by 0.46% on Saturday. Partially reversing a 1.78% gain from Friday, Bitcoin ended the day at $11,492.0.

It was a mixed start to the day. Bitcoin fell to an early morning low $11,483.0 before rising to a late morning intraday high $11,606.3.

Falling short of the first major resistance level at $11,640, Bitcoin slid to a late morning intraday low $11,450.0.

Steering clear of the first major support level at $11,376, Bitcoin moved back through to $11,500 levels.

A bearish end to the day, however, saw Bitcoin slip back to sub-$11,500 levels and into the red.

The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

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

Binance Coin (-0.61%), Bitcoin Cash ABC (-0.47%), Bitcoin Cash SV (-0.78%), Litecoin (-0.71%), and Moneros XMR (-2.06%) joined Bitcoin in the red.

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

Cardanos ADA rallied by 6.34% to lead the way.

EOS (+0.27%), Ethereum (+0.82%), Ripples XRP (+0.80%), Stellars Lumen (+0.59%), Tezos (+2.65%), and Trons TRX (+4.22%) also made gains on the day.

In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $329.92bn. At the time of writing, the total market cap stood at $351.97bn.

Bitcoins dominance rose to a Tuesday high 62.13% before falling to a Saturday low 60.69%. At the time of writing, Bitcoins dominance stood at 61.01%.

At the time of writing, Bitcoin was up by 1.36% to $11,648.0. A bullish start to the day saw Bitcoin rise from an early morning low $11,480.0 to a high $11,668.4.

Bitcoin broke through the first major resistance level at $11,582 early on.

Elsewhere, it was also a bullish start to the day.

At the time of writing, Trons TRX was up by 5.15% to lead the way.

Story continues

Bitcoin would need to avoid a fall back through to sub-$11,600 levels to support a run at the second major resistance level at $11,672.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $11,668.4.

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

In the event of a crypto breakout, Bitcoin could test resistance at $11,700 before any pullback. The third major resistance level sits at $11,829.

A fall back through to sub-$11,600 levels and the $11,516 pivot would bring the first major support level at $11,426 into play.

Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$11,400 levels on the day. The second major support level sits at $11,360.

This article was originally posted on FX Empire

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The Crypto Daily Movers and Shakers August 30th, 2020 - Yahoo Finance

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