Bitcoin, BTC to USD, rallied by 4.01% on Saturday. Following a 2.04% gain on Friday, Bitcoin ended the day at $11,804.7.<\/p>\n
A bearish start to the day saw Bitcoin fall to an early morning intraday low $11,227 before making a move.<\/p>\n
Steering clear of the first major support level at $11,080, Bitcoin rallied to a late intraday high $11,843.0.<\/p>\n
Bitcoin broke through the first major resistance level at $11,530 and the second major resistance level at $11,710.<\/p>\n
The near-term bullish trend remained intact, supported by the latest move through to $11,000 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 a bullish day on Saturday.<\/p>\n
Ethereum (+11.69%), Ripples XRP (+12.06%), and Stellars Lumen (+10.76%) led the way.<\/p>\n
Bitcoin Cash ABC (+6.05%), Bitcoin Cash SV (+5.97%), EOS (+6.71%), Litecoin (+6.01%), Moneros XMR (+5.94%), and Tezos (+6.87%) also found strong support.<\/p>\n
Binance Coin (+4.64%), Cardanos ADA (+3.79%), and Trons TRX (+3.92%) trailed the front runners on the day.<\/p>\n
In the current week, the crypto total market cap rose from a Monday low $285.49bn to a Saturday high $349.72bn. At the time of writing, the total market cap stood at $348.82bn.<\/p>\n
Bitcoins dominance rose from a Monday low 62.44% to a Tuesday high 64.58% before sliding back. At the time of writing, Bitcoins dominance stood at 62.69.<\/p>\n
At the time of writing, Bitcoin was down by 0.04% to $11,800. A mixed start to the day saw Bitcoin fall to an early morning low $11,788 before rising to a high $11,845.<\/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
Bitcoin Cash SV (+0.09%), Ethereum (+0.45%), Moneros XMR (+0.30%), Stellars Limen (+0.58%), and Trons TRX (+0.87%) found early support.<\/p>\n
It was a bearish start for the rest of the majors, however, with Litecoin down by 0.87% to lead the way down.<\/p>\n
Bitcoin would need to avoid a fall through the $11,625 pivot to support a run at the first major resistance level at $12,023.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from Saturdays high $11,843.<\/p>\n
Barring an extended crypto rally, the first major resistance level would likely cap any upside.<\/p>\n
In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,241.<\/p>\n
Failure to avoid a fall through the $11,625 pivot level would bring the first major support level at $11,407 into play.<\/p>\n
Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $11,009 and sub-$11,000 levels.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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See original here: <\/p>\n
The Crypto Daily Movers and Shakers August 2nd, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin, BTC to USD, rallied by 4.01% on Saturday. Following a 2.04% gain on Friday, Bitcoin ended the day at $11,804.7. A bearish start to the day saw Bitcoin fall to an early morning intraday low $11,227 before making a move Continue reading