The Crypto Daily – Movers and Shakers – November 22, 2020

Bitcoin, from BTC to USD, closed the day flat on Saturday at $ 18,660.0. Bitcoin rallied by 4.73% on Friday.

It was a bullish start to the day. Bitcoin rallied to a morning intraday high and a new high $ 18,945.0 before reversing.

Failing to reach the first major resistance level at $ 19,062, Bitcoin fell to a mid-day intraday low of $ 18,323.0.

Avoiding the first major support level at $ 18005, Bitcoin briefly revisited the $ 18,800 levels before turning back.

The short-term bullish trend remained intact, supported by the latest move up to the $ 18,000 levels. For bears, Bitcoin is expected to slide through the 62% FIB of $ 9,709 to form a short-term bearish trend.

The rest of the pack

For the rest of the majors, Saturday was a bullish day.

Ripple’s XRP rose a whopping 39.95% to lead the way.

Bitcoin Cash SV (+ 16.00%), ADA di Cardano (+ 12.69%), Chainlink (+ 9.81%), Ethereum (+ 8.35%), Polkadot (+ 10.33%) and Ripple’s XRP (+ 8.74%) posted strong gains.

Binance Coin (+ 5.23%), Crypto.com Coin (+ 0.55%), Litecoin (+ 5.43%), however, followed the top finishers.

In the current week, the total market cap of cryptocurrencies went from a low of $ 445.47 billion on Monday to a high of $ 544.20 billion on Saturday. At the time of writing, the total market capitalization was $ 529.35 billion.

Bitcoin’s dominance rose to a Wednesday high of 67.46% before slipping to a Sunday low of 64.32%. At the time of writing, Bitcoin’s dominance was 64.95%.

This morning

At the time of writing, Bitcoin was down 0.95% to $ 18,482.0. A mixed start to the day saw Bitcoin rise to a morning high of $ 18,732.0 before falling to a morning low of $ 18,415.0.

Bitcoin left the major support and resistance levels untested in the beginning.

Elsewhere, it was a bearish start to the day.

At the time of writing, Ripple’s XRP was down by 5.45% to pave the way to the downside.

For Bitcoin Day Ahead

Bitcoin should move back through the pivot level at $ 18,643 to bring the first major resistance level at $ 18,962 into play.

Support from the broader market would be needed for Bitcoin to break through the $ 18,900 levels.

Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $ 19,500 before any pullback. The second major resistance level is found at $ 19,265.

Failure to return to the pivot of $ 18,643 would bring the first major support level at $ 18,340 into play.

Barring another extended cryptocurrency sell-off, Bitcoin is expected to avoid levels below $ 18,000. The second major support level at $ 18,021 should limit any downside.

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