The Crypto Daily - Movers and Shaker - August 25, 2021

Bitcoin, BTC to USD, fell by 3.65%on Tuesday. Bitcoin turned a profit of 0.52% compared to Monday and ended the day at $ 47,714.0

A chopped-up start to the day led to Bitcoin climbing an intra-raday high in the morning of $ 49,860.0 before it hit the reverse gear.

Bitcoin missed the first great resistance level of $ 50,370 and slipped to an intraday low of the last hour of $ 47,555.0

The extended sale meant that Bitcoin broke the first major level of support at $ 48,867 and the second major level of support at $ 48,210 in order to end the day at a level of less than $ 48,000.

The short -term upward trend remained intact, supported by the recent return to a level of $ 50,000. 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 Tuesday.

chainlink slipped by 9.86%to lead the way down, with Litecoin (-7.18%) and Ripple’s XRP (-8.63%) ended the day in deep red.

Binance Coin (-5.56%), Cardanos Ada (-6.72%), Ethereum (-4.55%) and polar cadot (-6.62%) also had problems.

Bitcoin Cash SV (-2.38 %) and Crypto.com Coin (-1.65 %) recorded relatively modest losses that day.

At the beginning of the week, the overall crypto market rose to a Monday high of $ 2,169 billion before fell to a low of USD 1,989 billion on Tuesday. At the time of the letter, the overall market capitalization was $ 2,034 billion.

The dominance of Bitcoin fell to a Tuesday low of 43.64 % before increasing a Tuesday high of 44.96 %. At the time of writing, Bitcoin's dominance was 44.34%.

this morning

At the time of writing, Bitcoin rose 0.60% to $ 48,000.0. A mixed start to the day led to Bitcoin fell to a low in the early morning of $ 47,655.0 before it rose to a high of $ 48,135.2

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 and Crypto.com Coin fell by 0.58 % and 1.20 % to counteract the early trend.

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

At the time of writing, Cardanos Ada had increased by 1.86% to show the way.

for the upcoming Bitcoin tag

Bitcoin would have to move through the pivot of $ 48,376 to bring the first great resistance level at $ 49,198.

So that Bitcoin can break through $ 49,000 again, support from the wider market would be required.

Apart from a broad crypto rally, the first major level of resistance would probably limit any upward trend.

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 level is $ 50,681.

If the pivot of $ 48,376 is not broken, the first major level of support would come into play at $ 46,893.

Apart from another longer sale on this day, Bitcoin should stay away from less than $ 46,000. The second major support level of $ 46,071 should limit the downward movement.