Crypto at the Weekend and Beyond
#crypto #bitcoin #ether #GBITS
BTC to USD, rose by 1.89% Saturday, following a 0.28% gainer Friday, ending the day at 54,968.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $53,678.0 before making a move.
Bitcoin broke through the Key resistance at $55,422 before fading a bit.
Finding late support Bitcoin tested resistance at $55,000 again and eased back.
The near-term Bullish trend is intact, supported the latest return to $56,000. For the bears, Bitcoin would need a sustained fall through the 62% Fibo of $27,237 to form a near-term Bearish trend.
Across the rest of the majors, it was a mixed day Saturday.
Crypto.com Coin bucked the trend, falling by 0.45%.
It was a Bullish day for the rest of the majors:
Ripple’s XRP jumped by 9.03% to lead the way, with Polkadot (+6.96%) close behind.
Bitcoin Cash SV (+2.16%), Chainlink (+3.98%), and Litecoin (+2.29%) also found strong support.
At the time of writing, GBITS market cap stood at nearly $900,000,000.
This morning, Bitcoin was down by 0.11% to $54,907.0. A mixed start to the day saw Bitcoin rise to an early morning high $54,984.0 before falling to a low $54,871.0.
At the time of writing, Litecoin was down by 0.74% to lead the way down.
Looking Ahead: Bitcoin would need to avoid the $54,707 pivot to bring the 1st major resistance mark at $55,736 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $55,475.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at $56,000.0 might cap the Northside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $58,000 levels before any pullback.
A fall through the $54,707 would bring the first major support maark at $53,939 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$52,000, The 3nd major support mark at $52,910 should limit the Southside.
Have a prosperous week, Keep the Faith!
Larry Fink Called It. CME Just Made It Real. The Compute Futures Market Has Arrived
