Bitcoin, BTC to USD, fell by 0.66% on Thursday. Following on from a 0.58% decline on Wednesday, Bitcoin ended the day at $9,149.6.<\/p>\n
It was a mixed start to the day. Bitcoin rose to an early morning intraday high $9,227.2 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $9,267.06, Bitcoin slid to a late morning intraday low $9,026.6.<\/p>\n
The reversal saw Bitcoin slide through the first major support level at $9,166.07 and the second major resistance level at $9,122.03.<\/p>\n
Finding support at the third major support level at $9,021.03, Bitcoin revisited $9,160 levels before easing back. While breaking back through the second major support level, the first major support level at $9,166.07 pinned Bitcoin back.<\/p>\n
The near-term bullish trend remained intact in spite of the early July pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.<\/p>\n
Across the rest of the majors, it was another mixed day on Thursday.<\/p>\n
Stellars Lumen rallied by 8.65% to buck the trend on the day.<\/p>\n
It was a bearish day for the rest of the majors.<\/p>\n
Cardanos ADA (-3.50%), Moneros XMR (-4.02%) and Tezos (-3.53%) led the way down.<\/p>\n
Binance Coin (-2.61%), Bitcoin Cash SV (-2.84%), Ethereum (-2.07%), and Litecoin (-2.80%) also struggled.<\/p>\n
Bitcoin Cash ABC (-1.28%), EOS (-1.18%), Ripples XRP (-1.58%) and Trons TRX (-1.90%) saw relatively modest losses.<\/p>\n
In the current week, the crypto total market cap rose to a Monday high $273.18bn before falling to a Thursday low $258.89bn. At the time of writing, the total market cap stood at $263.90bn.<\/p>\n
Bitcoins dominance fell to a Monday low 63.09% before rising to a Thursday high 64.28%. At the time of writing, Bitcoins dominance stood at 63.72%.<\/p>\n
At the time of writing, Bitcoin was down by 0.10% to $9,140.5. A bearish start to the day saw Bitcoin fall from an early morning high $9,150.8 to a low $9,137.4.<\/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
At the time of writing, Stellars Lumen was up by 0.67% to buck the trend.<\/p>\n
It was a bearish start for the rest of the majors.<\/p>\n
Binance Coin and Tezos were down by 0.64% and by 0.66% respectively to lead the way down.<\/p>\n
Bitcoin would need to avoid a fall through the $9,135 pivot to support a run at the first major resistance level at $9,242.33.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from Thursdays high $9,227.2.<\/p>\n
Barring an extended crypto rally, the first major resistance level and Thursdays high would likely cap any upside.<\/p>\n
In the event of a crypto breakout, Bitcoin should break through the second major resistance level at $9,335.07. Resistance at $9,400 would likely cap any upside.<\/p>\n
Failure to avoid a fall through the $9,135 pivot level would bring the first major support level at $9,041.73 into play.<\/p>\n
Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$8,900 levels. The second major resistance level at $8,933.87 and 23.6% FIB of $8,900 should limit any downside.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
<\/p>\n
See more here:<\/p>\n
The Crypto Daily Movers and Shakers July 17th, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin, BTC to USD, fell by 0.66% on Thursday. Following on from a 0.58% decline on Wednesday, Bitcoin ended the day at $9,149.6. Continue reading