The Crypto Daily – Movers and Shakers – December 1st, 2021

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Daily Video Tech Analysis of Bitcoin, Ethereum, Litecoin, and Ripple’s XRP

Bit­coin, BTC to USD, fell by 1.51% on Tues­day. Revers­ing a 0.89% gain from Mon­day, Bit­coin end­ed the day at $56,966.

A bear­ish start to the day saw Bit­coin fall to a mid-morn­ing intra­day low $55,899 before mak­ing a move.

The rever­sal saw Bit­coin fall through the first major sup­port lev­el at $56,773 before ris­ing to a mid-after­noon intra­day high $59,174. Bit­coin broke through the first major resis­tance lev­el at $58,897 before falling back to end the day at sub-$57,000 levels.

The near-term bull­ish trend remained intact, in spite of the lat­est pull­back to sub-$54,000 lev­els. For the bears, Bit­coin would need a sus­tained fall through the 62% FIB of $28,814 to form a near-term bear­ish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Ethereum (+4.16%) and Polka­dot (+3.78%) led the way.

Chain­link (+1.25%), Lite­coin (+1.05%), and Ripple’s XRP (+0.86%) also found support.

Binance Coin (-0.24%), Bit­coin Cash SV (-0.45%), Cardano’s ADA (-3.05) and Crypto.com Coin (-6.50%) joined Bit­coin in the red, however.

Ear­ly in the week, the cryp­to total mar­ket fell to a Mon­day low $2,504bn before ris­ing to a Tues­day high $2,699bn. At the time of writ­ing, the total mar­ket cap stood at $2,608bn.

Bitcoin’s dom­i­nance rose to a Mon­day high 42.92% before falling to a Tues­day low 41.45%. At the time of writ­ing, Bitcoin’s dom­i­nance stood at 41.59%.

This Morning

At the time of writ­ing, Bit­coin was up by 0.76% to $57,398. A mixed start to the day saw Bit­coin fall to an ear­ly morn­ing low $56,712 before ris­ing to a high $57,550.

Bit­coin left the major sup­port and resis­tance lev­els untest­ed ear­ly on.

Else­where, it was a mixed start to the day.

At the time of writ­ing, Crypto.com Coin was down by 0.11% to buck the ear­ly trend.

It was a bull­ish start for the rest of the majors, how­ev­er, with Ethereum up by 1.34% to lead the way.

For the Bitcoin Day Ahead

Bit­coin would need to avoid a fall back through the $57,346 piv­ot to bring the first major resis­tance lev­el at $58,794 into play. Sup­port from the broad­er mar­ket would be need­ed, how­ev­er, for Bit­coin to break out from $58,500 levels.

Bar­ring an extend­ed cryp­to ral­ly, the first major resis­tance lev­el and Tuesday’s high $59,174 would like­ly cap the upside.

In the event of an extend­ed ral­ly, Bit­coin could test resis­tance at $63,000 lev­els before eas­ing back. The sec­ond major resis­tance lev­el sits at $60,621.

A fall back through the $57,346 piv­ot would bring the first major sup­port lev­el at $55,519 into play. Bar­ring anoth­er extend­ed sell-off on the day, Bit­coin should steer clear of sub-$55,000 lev­els. The sec­ond major sup­port lev­el sits at $54,071.

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