Bitcoin, BTC to USD, fell by 1.52% on Friday. Reversing a 0.20% gain from Thursday, Bitcoin ended the day at $11,580.0.<\/p>\n
It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,900 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $11,914, Bitcoin slid to a late afternoon intraday low $11,326.<\/p>\n
Bitcoin fell through the first major support level at $11,581 and the second major support level at $11,402.<\/p>\n
Finding late support, however, Bitcoin broke back through the second major support level to end the day at $11,580.<\/p>\n
The first major support level at $11,581 pinned Bitcoin back late in 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 bearish day for the majors on Friday.<\/p>\n
Bitcoin Cash SV (-4.48%), Cardanos ADA (-3.93%), Ethereum (-3.93%), Litecoin (-3.10%), Stellars Lumen (-3.44%), and Tezos (-4.53%) led the way down.<\/p>\n
Binance Coin (-1.85%), Bitcoin Cash ABC (-2.15%), EOS (-2.54%), Moneros XMR (-1.10%), Ripples XRP (-2.87%), and Trons TRX (-1.83%) saw relatively modest losses on the day.<\/p>\n
In the current week, the crypto total market cap rose from a Monday low $323.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $342.33bn.<\/p>\n
Bitcoins dominance fell from a Monday high 62.46% to a Tuesday low 61.24%. At the time of writing, Bitcoins dominance stood at 62.69%.<\/p>\n
At the time of writing, Bitcoin was up by 0.17% to $11,599.6. A mixed start to the day saw Bitcoin fall to an early morning low $11,523.0 before rising to a high $11,608.0.<\/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
Binance Coin (-1.02%), Cardanos ADA (-0.09%), EOS (-0.38%), Moneros XMR (-0.80%), Stellars Lumen (-0.02%), Tezos (-0.74%), and Trons TRX (-0.90%) saw red.<\/p>\n
It was a bullish start for the rest of the majors, however.<\/p>\n
Bitcoin Cash ABC was up by 0.22% to lead the way.<\/p>\n
Bitcoin would need to move through the $11,600 pivot to support a run at the first major resistance level at $11,878.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break back through to $11,800 levels.<\/p>\n
Barring an extended crypto rally, the first major resistance level and Fridays high $11,900 would likely cap any upside.<\/p>\n
In the event of a crypto breakout, Bitcoin could eye the second major resistance level at $12,176.<\/p>\n
Failure to move through the $11,600 pivot level would bring the first major support level at $11,304 into play.<\/p>\n
Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$11,000 levels. The second major support level at $11,028 should limit any downside.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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The Crypto Daily Movers and Shakers August 8th, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin, BTC to USD, fell by 1.52% on Friday. Reversing a 0.20% gain from Thursday, Bitcoin ended the day at $11,580.0 Continue reading