Bitcoin slid by 2.14% on Tuesday. Reversing a 0.78% gain from Monday, Bitcoin ended the day at $8,191.1.<\/p>\n
A bullish start to the day saw Bitcoin rally to an early morning intraday high $8,439.7 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $8,456.37, Bitcoin fell to a late afternoon intraday low $8,100.<\/p>\n
The sell-off saw Bitcoin fall through the first major support level at $8,255.47 and second major support level at $8,140.93.<\/p>\n
Finding support late in the day, Bitcoin broke back through the second major support level to $8,200 levels.<\/p>\n
Negative sentiment across the broader market ultimately weighed, however, with Bitcoin easing back to sub-$8,200 levels.<\/p>\n
It was Bitcoins lowest closeout since 6th Octobers $7,883.<\/p>\n
For the bulls, the extended bullish trend remained intact in spite of hovering at sub-$9,000 levels. While falling back through the 38.2% FIB, Bitcoin continued to hold above the 62% FIB of 7,245.<\/p>\n
Across the rest of the top 10 cryptos, it was a mixed bag across the crypto board on Tuesday.<\/p>\n
Binance Coin and Bitcoin Cash SV bucked the trend on the day, rising by 0.49% and by 2.30% respectively.<\/p>\n
It was deep red for the rest of the majors, however.<\/p>\n
EOS led the way down, with a 6.34% loss<\/p>\n
Litecoin, Bitcoin Cash ABC, and Ethereum also saw heavy losses on the day. Litecoin slid by 4.08%, with Ethereum and Bitcoin Cash ABC falling by 3.36% and 3.21% respectively.<\/p>\n
Ripples XRP (-3.14%) and Stellars Lumen (-2.04%) saw more modest losses on the day.<\/p>\n
Through the early part of the week, the total crypto market cap rose from a Monday low $223.92bn to a high $228.17bn before hitting reverse. The Tuesday sell-off saw the total market cap fall to a current week low $221.83bn before support kicked in. At the time of writing, the total market cap stood at $222.65bn.<\/p>\n
Bitcoins dominance continued to sit at sub-67% levels in spite of Tuesdays sell-off.<\/p>\n
At the time of writing, Bitcoin was down by 0.11% to $8,181.7. A bearish start to the day saw Bitcoin fall from an early morning high $8,191.1 to a low $8,156.8.<\/p>\n
Bitcoin left the major support and resistance levels untested early on.<\/p>\n
Elsewhere, Bitcoin Cash SV and Bitcoin Cash ABC found early support, rallying by 2.87% and 1.72% respectively.<\/p>\n
EOS (+0.33%), Litecoin (+0.62%), and Ripples XRP (+0.65%) were also in the green at the time of writing.<\/p>\n
Ethereum and Binance Coin struggled at the start of the day, however, with losses of 0.43% and 0.42% respectively.<\/p>\n
For the day ahead, Bitcoin would need to move through to $8,240 levels to support a run at the first major resistance level at $8,387.2.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from $8,200 levels.<\/p>\n
Barring a broad-based crypto rebound, the first major resistance level would likely pin Bitcoin back from $8,400 levels.<\/p>\n
Failure to move through to $8,240 levels could see Bitcoin spend another day in the red.<\/p>\n
A fall back through Tuesdays low $8,100 would bring the first major support level at $8,047.5 into play.<\/p>\n
Barring a crypto meltdown, Bitcoin should steer clear of sub-$8,000 support levels on the day.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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Read the original post:<\/p>\n
The Crypto Daily Movers and Shakers -16\/10\/19 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin slid by 2.14% on Tuesday. Reversing a 0.78% gain from Monday, Bitcoin ended the day at $8,191.1. A bullish start to the day saw Bitcoin rally to an early morning intraday high $8,439.7 before hitting reverse. Continue reading