It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,788 before hitting reverse.

Falling short of the first major resistance level at $11,866, Bitcoin slid to a late afternoon intraday low $11,530.0.

Bitcoin fell through the first major support level at $11,593 before finding support.

A late move back through to $11,600 levels cut the deficit on the day.

The near-term bullish trend remained intact, supported by the latest move 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 for the majors on Sunday.

Stellar’s Lumen and Tezos bucked the trend, with gains of 2.03% and 8.98% respectively.

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

Bitcoin Cash SV led the way down, falling by 3.51%.

Bitcoin Cash ABC (-2.36%), Binance Coin (-2.23%), Ethereum (-1.78%), Litecoin (-2.55%), Monero’s XMR (-2.13%), and Ripple’s XRP (-2.56%) also saw heavy losses.

Cardano’s ADA (-1.28%), EOS (-1.20%), and Tron’s TRX (-0.43%) saw modest losses on the day.

It was also a mixed week for the majors.

Ripple’s XRP bucked the trend with a 0.04% loss.

It was bullish for the rest of the pack, however.

Tezos led the way, rallying by 27.30%.

Binance Coin (+6.82%), Bitcoin Cash ABC (+6.61%), Cardano’s ADA (+8.36%), Monero’s XMR (+9.69%), and Tron’s TRX (+7.38%) also found strong support.

Bitcoin Cash SV (+1.90%), EOS (+2.95%), Ethereum (+4.90%), Litecoin (+0.30%), and Stellar’s Lumen (+2.73%) trailed the front runners.

In the week, the crypto total market cap rose from a Monday low $322.88bn to a Thursday high $355.09bn. At the time of writing, the total market cap stood at $349.50bn.

Bitcoin’s dominance fell to a Tuesday low 61.24% before rising to a Friday high $63.16. At the time of writing, Bitcoin’s dominance stood at 62.15%.

(Excerpt) Read more Here | 2020-08-09 18:40:27
Image credit: source

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