Bitcoin fell by 0.62% on Tuesday. Partially reversing a 2.20% gain from Monday, Bitcoin ended the day at $8,845.5.<\/p>\n
A mixed start to the day saw Bitcoin rise to a late morning intraday high $9,013.3 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $9,037.13, Bitcoin slid to a late afternoon intraday low $8,704.9.<\/p>\n
Steering clear of the first major support level at $8,693.43, Bitcoin recovered to $8,800 levels to limit the loss on the day.<\/p>\n
The near-term bearish trend, formed at late June 2019s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.<\/p>\n
For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.<\/p>\n
Across the rest of the majors, it was another mixed day for the majors on Tuesday.<\/p>\n
Moneros XMR rose by 0.24% to buck the trend.<\/p>\n
It was a bearish day for the rest of the pack, however.<\/p>\n
Bitcoin Cash SV slid by 2.57% to lead the way down.<\/p>\n
Binance Coin (-1.04%), Ethereum (-1.58%), Litecoin (-1.61%), Ripples XRP (-1.20%), Stellars Lumen (-1.76%), and Tezos (-1.54%) also struggled.<\/p>\n
Bitcoin Cash ABC (-0.18%), Cardanos ADA (-0.69%), EOS (-0.76%), and Trons TRX (-0.74%) saw relatively modest losses on the day.<\/p>\n
Early in the week, the crypto total market cap fell to an early Monday low $238.04bn before rising to a Tuesday high $247.84bn. At the time of writing, the total market cap stood at $243.55bn.<\/p>\n
Bitcoins dominance fell to a Monday low 66.38% before rising to a Tuesday high 66.86%. At the time of writing, Bitcoins dominance stood at 66.57%.<\/p>\n
At the time of writing, Bitcoin was down by 0.24% to $8,824.0. A mixed start to the day saw Bitcoin rise to an early morning high $8,896.5 before falling to a low $8,822.7.<\/p>\n
Bitcoin left the major support and resistance levels untested early on.<\/p>\n
Elsewhere, it was a mixed start to the day.<\/p>\n
Cardanos ADA and Moneros XMR led the way down, with losses of 0.87% and 0.53% respectively.<\/p>\n
Ethereum (+0.28%), Litecoin (+0.17%), and Ripples XRP (+0.49%) bucked the trend early on.<\/p>\n
Bitcoin would need to move through to $8,860 levels to bring the first major resistance level at $9,004.23 into play.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $8,896.5.<\/p>\n
Barring an extended crypto rally, the first major resistance level would likely limit any upside.<\/p>\n
In the event of an extended crypto rally, the second major resistance level at $9,162.97 would likely come into play.<\/p>\n
Failure to move back through to $8,860 levels could see Bitcoin fall deeper into the red.<\/p>\n
A fall back through the morning $8,822.2 would bring the first major support level at $8,695.83 into play.<\/p>\n
Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,546.17.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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The Crypto Daily Movers and Shakers -27\/05\/20 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin fell by 0.62% on Tuesday. Partially reversing a 2.20% gain from Monday, Bitcoin ended the day at $8,845.5. A mixed start to the day saw Bitcoin rise to a late morning intraday high $9,013.3 before hitting reverse Continue reading