Bitcoin, BTC to USD, rose by 2.07% on Sunday. Reversing a 0.46% decline Saturday, Bitcoin ended the week up by 0.57% to $11,730.0.<\/p>\n
It was a bullish start to the day. Bitcoin rallied from an early morning intraday low $11,480.0 to a late afternoon high $11,721.0.<\/p>\n
Bitcoin broke through the first major resistance level at $11,582 and the second major resistance level at $11,672.<\/p>\n
Late in the day, Bitcoin fell back to $11,620 levels before breaking back through the second major resistance level at $11,672.<\/p>\n
The late recovery saw Bitcoin strike an intraday high $11,730 in the final hour.<\/p>\n
The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 Sunday.<\/p>\n
Ethereum (+7.62%), Litecoin (+10.45%), and Trons TRX (+8.65%) led the way.<\/p>\n
Binance Coin (+2.87%), Bitcoin Cash ABC (+3.25%), Bitcoin Cash SV (+3.32%), EOS (+4.20%), Moneros XMR (+3.86%), and Ripples XRP (+3.28%) also made solid gains.<\/p>\n
Cardanos ADA (+0.96%), Stellars Lumen (+2.01%), and Tezos (+1.13%) trailed the front runners.<\/p>\n
For the week, it was a mixed bag for the majors, however.<\/p>\n
Binance Coin (+8.00%), Bitcoin Cash SV (+1.11%), Ethereum (+9.73%), Litecoin (+3.76%), Moneros XMR (+6.38%), and Trons TRX (+11.05%) joined Bitcoin in the green.<\/p>\n
It was a bearish week for the rest of the majors.<\/p>\n
Bitcoin Cash ABC (-1.78%), Cardanos ADA (-3.48%), EOS (-1.92%), Ripples XRP (-0.62%), Stellars Lumen (-4.55%), and Tezos (-3.75%) saw red.<\/p>\n
In the week, the crypto total market fell to a Thursday low $329.40bn before rising to a Sunday high $359.74bn. At the time of writing, the total market cap stood at $357.31bn.<\/p>\n
Bitcoins dominance rose to a Thursday high 62.28% before falling to a Sunday low 60.17%. At the time of writing, Bitcoins dominance stood at 60.54%.<\/p>\n
At the time of writing, Bitcoin was up by 0.04% to $11,735.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,713.0 before striking a high $11,744.0.<\/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
Bitcoin Cash SV (-0.77%), EOS (-0.24%), and Ethereum (-0.71%) saw red early on.<\/p>\n
It was a bullish start for the rest of the majors.<\/p>\n
At the time of writing, Tezos was up by 0.73% to lead the way.<\/p>\n
Bitcoin would need to avoid a fall through the $11,647 pivot level to support a run at the first major resistance level at $11,813.<\/p>\n
Support from the broader market would be needed, however, for Bitcoin to break out from this mornings high $11,744.0.<\/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, the second major resistance level at $11,897 and resistance at $12,000 would likely be tested.<\/p>\n
A fall through the $11,647 pivot would bring the first major support level at $11,563 into play.<\/p>\n
Barring an extended crypto sell-off, however, Bitcoin should avoid sub-$11,500 levels on the day. The second major support level sits at $11,397.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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See the original post:<\/p>\n
The Crypto Daily Movers and Shakers August 31st, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin, BTC to USD, rose by 2.07% on Sunday. Reversing a 0.46% decline Saturday, Bitcoin ended the week up by 0.57% to $11,730.0 Continue reading