The Crypto Daily - Movers and Shaker - August 22, 2021

Bitcoin, BTC to USD, fell by 1.01 %on Saturday. Bitcoin was able to reverse a rally of 5.48% from Friday and ended the day at $ 48,837.0

After a tensioned start to the day, Bitcoin fell to an intraday low of $ 48,219.0 in the late morning before making a movement.

To avoid the first major support level at $ 47,518, Bitcoin recovered to an intraday high in the late afternoon of $ 49,788.0

Bitcoin missed the first large level of resistance of $ 50,271 and slid back to less than $ 49,000 and into the red.

The short -term upward trend remained intact, supported by the recent return to a level of $ 49,000. For the bears, Bitcoin would need a continued decline from the 62 % FIB of $ 27,237 in order to form a short -term downward trend.

The rest of the package

For the rest of the majors it was a bearish day on Saturday.

Bitcoin Cash SV and Ripple’s XRP led down with losses of 3.25 % or 3.57 %.

chainlink (-2.89 %), Ethereum (-1.83 %) and Litecoin (-2.11 %) also had problems.

Binance Coin (-1.29 %), Cardanos ADA (-0.75 %), Crypto.com Coin (-0.73 %) and Polkadot (-0.06 %), however, recorded relatively modest losses.

In the current week, the overall crypto market fell to a Wednesday low of USD 1,832 billion before increasing a Saturday high of USD $ 2,124. At the time of the letter, the overall market capitalization was $ 2,062 billion.

The dominance of Bitcoin fell to a Tuesday low of 43.67 % before increasing to a Wednesday high of 45.35 %. At the time of writing, Bitcoin's dominance was 44.55%.

this morning

At the time of writing, Bitcoin rose 0.03 % to $ 48,854.0. After a mixed start of the day, Bitcoin fell to a low of $ 48,692.5 in the early morning before it rose to a high of $ 48,998.7

Bitcoin left the most important level of support and resistance at an early stage.

Elsewhere it was a mixed start to the day.

Bitcoin Cash SV decreased by 0.72% to counteract the trend at the beginning of the day.

For the rest of the majors, however, it was a bullish start.

At the time of writing, Polkadot had increased by 1.45% to take the lead.

for the upcoming Bitcoin tag

Bitcoin would have to move again through the pivot of $ 48,948 in order to bring the first great resistance level at $ 49,667.

So that Bitcoin can break out of the $ 49,500 brand, support from the wider market would be required.

Apart from a broad crypto rally, the first great resistance level and this would probably limit every upward trend at $ 49,788.0.

In the case of an extensive crypto rally, Bitcoin could test the resistance at 23.6% FIB of $ 50,473 before a pullback occurs. The second major resistance line is $ 50,517.

should it not be possible to overcome the pivot of $ 48,948 again, the first major support level at $ 48,108 would come into play.

Apart from a longer sale on this day, Bitcoin should stay away from less than $ 47,000. The second major support level of $ 47,379 should limit the downward movement.