The Crypto Daily – Movers and Shakers – July 24th, 2021

Bitcoin, BTC to USD, rallied by 4.11% on Friday. Following a 0.52% gain on Thursday, Bitcoin ended the day at $33,650.0.

After a mixed start to the day, Bitcoin fell to a late afternoon intraday low $32,020.0 before making a move.

Steering clear of the first major support level at $30,168, Bitcoin rallied to a late intraday high $33,625.3.

Bitcoin broke through the first major resistance level at $32,698 and the second major resistance level at $33,097 to end the day at $33,650 levels.

The near-term bullish trend remained intact, in spite of the latest return to $29,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Crypto.com Coin and Polkadot fell by 1.34% and by 2.22% respectively to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Ethereum rallied by 4.99% to lead the way.

Chainlink (+2.91%), Litecoin (+2.93%), and Ripple’s XRP (+2.62%) also made solid gains.

Binance Coin (+2.06%), Bitcoin Cash SV (+1.96%), and Cardano’s ADA (+1.89%) trailed the front runners, however.

In the current week, the crypto total market fell to a Tuesday low $1,154bn before rising to a Friday high $1,375bn. At the time of writing, the total market cap stood at $1,358bn.

Bitcoin’s dominance rose to a Tuesday high 47.62% before falling to a Thursday low 45.91%. At the time of writing, Bitcoin’s dominance stood at 46.34%.

This Morning

At the time of writing, Bitcoin was down by 0.35% to $33,532.0. A mixed start to the day saw Bitcoin rise to an early morning high $33,783.0 before falling to a low $33,456.9.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 3.27% to lead the way, with Chainlink (+0.28%) and Litecoin (+0.20%) also in the green.

It was a bearish start for the rest of the majors, however.

At the time of writing, Binance Coin was down by 0.73% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $33,098 pivot to bring the first major resistance level at $34,177 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s high $33,783.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $34,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $34,704.

A fall through the $33,098 pivot would bring the first major support level at $32,572 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$31,000 levels. The second major support level at $31,493 should limit the downside.

This article was originally posted on FX Empire

More From FXEMPIRE:

• Gold Price Prediction – Prices Slip on Dollar Strength

• U.S. stock markets hit new highs, Treasury yields up as choppy week ends

• Silver Price Prediction – Silver Falls as Yields Rise as Growth Concern Weigh on Prices

• Gold Weekly Price Forecast – Gold Markets Show Choppy Behavior

• The Weekly Wrap – Another Win for the Greenback as COVID-19 Raises the Alarm

• S&P 500 Weekly Price Forecast – Stock Markets Continue to Plow Higher