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Crypto at the Weekend and Beyond

#crypto #bitcoin #ether #GBITS

$BTCUSD $ETHUSD $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.

Binance Coin (+0.65%), Cardano’s ADA (+1.43%), Ethereum (+0.33%), trailed the front runners. GBITS to $197.76 attached its all time high at $199+

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!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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