The Crypto Daily – Movers and Shakers – November 5th, 2021


A mixed start to the day saw Bitcoin rise to an early morning intraday high $63,067.0 before hitting reverse.

Falling short of the first major resistance level at $64,252, Bitcoin slid to a late intraday low $60,700.0.

Bitcoin fell through the first mayor support level at $60,862 before a partial recovery to $61,400 levels.

The near-term bullish trend remained intact, supported the latest return to $66,000 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. Coin rallied by 10.61% to lead the way, with Bitcoin Cash SV (+1.65%) and Polkadot (+3.37%) also bucking the trend on the day.

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

Cardano’s ADA and Chainlink led the way down, with losses of 3.82% and 2.94% respectively.

Binance Coin  (-1.65%), Ethereum (-1.50%), and Litecoin (-2.10%) also struggled.

Ripple’s XRP fell by a more modest 0.79%, however.

In the current week, the crypto total market fell to a Monday low $2,527bn before rising to a Wednesday high $2,804bn. At the time of writing, the total market cap stood at $2,693bn.

Bitcoin’s dominance rose to a Monday high 44.39% before falling to a Wednesday low 42.76%. At the time of writing, Bitcoin’s dominance stood at 43.01%.

Source link

Leave a reply