The Crypto Daily – Movers and Shakers – July 30th, 2021
A mixed start to the day saw Bitcoin fall to an early morning intraday low $39,272.0 before making a move.
Steering clear of the first major support level at $38,913, Bitcoin rose to a late morning intraday high $40,623.0.
Falling short the first major resistance level at $41,010, however, Bitcoin fell back to sub-$39,500 levels before finding support. A late move back through to $40,000 reversed losses from the day.
The near-term bullish trend remained intact, supported by the latest return to $40,000 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 Thursday.
Cardano’s ADA slipped by 0.15% to buck the trend.
It was a bullish day for the rest of the majors, however.
In the current the week, the crypto total market fell to a Monday low $1,379bn before rising to a Monday high $1,606bn. At the time of writing, the total market cap stood at $1,553bn.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 0.81% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the $39,977 pivot to bring the first major resistance level at $40,682 into play.
Support from the broader market would be needed for Bitcoin to break out from Thursday’s high $40,623.0.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,328.
Failure to avoid a fall back through the $39,977 pivot would bring the first major support level at $39,331 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $38,626.
This article was originally posted on FX Empire