Bitcoin, BTC to USD, rose by 1.59% on Saturday. Reversing a 1.52% fall from Friday, Bitcoin ended the day at $11,764.<\/p>\n
It was a mixed start to the day. Bitcoin fell to an early morning intraday low $11,523 before finding support.<\/p>\n
Steering clear of the first major support level at $11,304, Bitcoin rose to a mid-day intraday high $11,796.<\/p>\n
Falling short of the first major resistance level at $11,878, Bitcoin fell back to a low $11,601.<\/p>\n
Avoiding sub-$11,600 levels, Bitcoin moved back through to $11,700 levels to deliver the upside on the day.<\/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 for the majors on Saturday.<\/p>\n
Cardanos ADA and Tezos led the way, with gains of 5.74% and 9.84% respectively.<\/p>\n
Binance Coin (+2.64%), Ethereum (+4.67%), Litecoin (+2.15%), and Trons TRX (+3.19%) also found strong support.<\/p>\n
Bitcoin Cash ABC (+1.61%), Bitcoin Cash SV (+1.25%), EOS (+1.89%), Moneros XMR (+1.08%), Ripples XRP (+0.40%), and Stellars Lumen (+0.97%) trailed the pack.<\/p>\n
In the current week, the crypto total market cap rose from a Monday low $322.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $349.48bn.<\/p>\n
Bitcoins dominance fell to a Tuesday low 61.24% before rising to a Friday high 63.16%. At the time of writing, Bitcoins dominance stood at 62.15%.<\/p>\n
At the time of writing, Bitcoin was down by 0.08% to $11,755. A mixed start to the day saw Bitcoin rise to an early morning high $11,777.1 before falling to a low $11,746.0.<\/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 Tezos led the way down, with losses of 1.23% and 1.38% respectively.<\/p>\n
Binance Coin (-0.75%), EOS (-0.11%), Litecoin (-0.21%), Moneros XMR and Stellars Lumen (-0.44%) also saw red.<\/p>\n
Bitcoin Cash ABC (+0.80%), Bitcoin Cash SV (+0.80%), Ethereum (+0.06%), Ripples XRP (+0.09%), and Trons TRX (+0.47%) found early support.<\/p>\n
Bitcoin would need to avoid a fall through the $11,694 pivot to support a run at the first major resistance level at $11,866.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from Saturdays high $11,796.<\/p>\n
Barring an extended crypto rally, the first major resistance level and Saturdays high would likely cap any upside.<\/p>\n
In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $11,967.<\/p>\n
A fall through the $11,694 pivot level would bring the first major support level at $11,593 into play.<\/p>\n
Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,400 support levels. The second major support level at $11,421 should limit the downside.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
<\/p>\n
See the rest here: <\/p>\n
The Crypto Daily Movers and Shakers August 9th, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin, BTC to USD, rose by 1.59% on Saturday. Reversing a 1.52% fall from Friday, Bitcoin ended the day at $11,764 Continue reading