It was a bearish start to the day. Bitcoin fell to a late morning intraday low $11,277 before making a move.

The morning pullback saw Bitcoin fall through the first major support level at $11,311.

Finding support going into the afternoon, however, Bitcoin struck a late intraday high $11,632.

Bitcoin broke through the first major resistance level at $11,566 before falling back to sub-$11,500 levels.

Finding late support, however, Bitcoin broke back through to $11,500 levels to end the day in the green. Resistance at $11,500 continued to peg Bitcoin back, however.

The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 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.

Binance Coin (+1.69%), Bitcoin Cash ABC (+1.04%), and Bitcoin Cash SV (-0.14%) joined Bitcoin in the green.

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

Polkadot led the way down, falling by 3.00%.

Chainlink (-1.20%), and Ripple’s XRP (-1.23%) also struggled.

Cardano’s ADA (-0.36%), Crypto.com Coin (-0.29%), Ethereum (-0.28%), and Litecoin (-0.46%) saw relatively modest losses on the day.

In the current week, the crypto total market slid to a Monday low $344.29bn before rising to a Monday high $365.23bn. At the time of writing, the total market cap stood at $353.67bn.

Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Thursday high 60.21%. At the time of writing, Bitcoin’s dominance stood at 60.19%.

(Excerpt) Read more Here | 2020-10-15 17:52:12
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.