Daily Crypto Forecast – The Top Crypto Movements Today – October 4, 2021

Bitcoin, BTC to USD, rose 1.24% on Sunday. Bitcoin partially reversed a 1.05% loss from Saturday to end the week down 11.70% at $48,242.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $47,120.0 before making a move.

Bitcoin fell through the first major support level at $47,275 before rising to an intraday high $49,196.0 in the late afternoon.

The rally saw Bitcoin break through the first major resistance level at $48,187 and the second major resistance level at $48,724.

Bitcoin missed the third major resistance level at $49,636 and slipped back through the resistance levels to below $48,000.

However, finding late support, Bitcoin broke the first major resistance level and ended the day at the $48,200 level.

The short-term uptrend remained intact and supported the recent return to the $49,000 level. For the bears, Bitcoin would need a sustained decline through the 62% FIB of $27,237 to form a short-term downtrend.

The rest of the package

It was a mixed day for all other majors on Sunday.

Polkadot (-0.95%) saw red to buck the day’s trend.

However, it was a bullish day for the rest of the majors.

Bitcoin Cash SV gained 4.40% to take the lead.

Chainlink (+2.11%), Crypto.com Coin (+1.75%) and Ripple’s XRP (+1.76%) also found strong support.

However, Binance Coin (+0.79%), Cardano's ADA (+0.18%), Ethereum (+0.93%) and Litecoin (+0.99%) lagged behind the leaders.

It was also a mixed week, starting on the 3rd.^approxOctober for the crypto majors.

Polkadot fell 0.33% to buck the trend.

However, it was a bullish week for the rest of the majors.

Binance Coin surged 25.07% to take the lead.

Bitcoin Cash SV (+11.90%), Chainlink (+12.04%), Crypto.com Coin (+12.42%), Ethereum (+11.74%), Litecoin (+13.22%), and Ripple's XRP (+11.74%) also found strong support.

However, Cardano’s ADA (+1.99%) lagged behind the leaders.

For the week, the overall crypto market fell to a Wednesday low of $1,808 billion before rising to a Sunday high of $2,203 billion. At the time of writing, the total market capitalization stood at $2,151 billion.

Bitcoin dominance fell to a Friday low of 41.29% before rising to a Saturday high of 42.81%. At the time of writing, Bitcoin dominance stood at 42.14%.

This morning

At the time of writing, Bitcoin is down 0.22% at $48,138.0. After a mixed start to the day, Bitcoin rose to an early morning high $48,289.0 before falling to a low $48,019.0.

Bitcoin left key support and resistance levels untested early on.

Elsewhere it was a mixed start to the day.

Crypto.com Coin bucked early trend and rose 0.38%

However, it was a bearish start for the other majors.

At the time of writing, Chainlink was down 0.79% to lead the way lower.

For the upcoming Bitcoin day

Bitcoin would need to move back through the $48,186 pivot to bring the first major resistance level at $49,252 into play.

For Bitcoin to break back to $49,000 levels, support from the broader market would be needed.

Barring a broad-based crypto rally, the first major resistance level and Sunday's high at $49,196.0 would likely cap the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,473 before a pullback occurs. The second major resistance level is at $50,262.

Failure to clear $48,186 again would bring the first major support level at $47,176 into play.

Barring an extended sell-off on the day, Bitcoin should stay away from below $47,000. The second major support level is at $46,110.