The Crypto Daily – Movers and Shakers – September 3, 2021

Bitcoin, BTC to USD, rose 0.92% on Thursday. After gaining 3.57% on Wednesday, Bitcoin ended the day at $49,273.7.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $48,631.0 before making a move.

Avoiding the first major support level at $47,229, Bitcoin rallied to an early afternoon intraday high $50,365.0.

Bitcoin broke the first major resistance level at $49,778 before falling back to $49,200.

Later in the day, Bitcoin briefly visits the $49,850 level before easing back to end the day at levels below $49,300.

The first major resistance level at $49,778 pulled Bitcoin back.

The short-term uptrend remained intact, supported by the recent return to the $50,000 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

In all other majors it was a mixed day on Thursday

Polkadot slipped 5.03% with Binance Coin (-1.28%), Bitcoin Cash SV (-0.52%) and Ethereum (-1.08%) also seeing red.

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

Cardano's ADA and Crypto.com Coin led the way with gains of 3.11% and 4.08%, respectively.

However, Chainlink (+0.72%), Litecoin (+1.40%), and Ripple's XRP (+1.35%) lagged behind the leaders.

In the current week, the overall crypto market fell to a Monday low of $1,996 billion before rising to a Thursday high of $2,285 billion. At the time of writing, the total market capitalization stood at $2,216 billion.

Bitcoin dominance rose to a Monday high of 44.14% before falling to a Wednesday low of 41.40%. At the time of writing, Bitcoin dominance stood at 41.85%.

This morning

At the time of writing, Bitcoin was up 0.11% at $49,326.0. A mixed start to the day saw Bitcoin fall to an early morning low $49,212.7 before rising to a high $49,406.2.

Bitcoin left key support and resistance levels untested early on.

Elsewhere it was a mixed start to the day.

Binance Coin (-0.11%), Chainlink (-0.06%), Litecoin (-0.18%), and Ripple's XRP (-0.24%) saw red early.

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

At the time of writing, Bitcoin Cash SV was up 2.38% to take the lead.

For the upcoming Bitcoin day

Bitcoin would need to move through the $49,423 pivot to bring the first major resistance level at $50,216 and the 23.6% FIB of $50,473 into play.

For Bitcoin to break out of Thursday's high at $50,365.0, support from the broader market would be needed.

Barring a broad-based crypto rally, the 23.6% FIB would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $52,000 before a pullback occurs. The second major resistance line is at $51,157.

Failure to break the $49,423 pivot would bring the first major support level at $48,482 into play.

Barring an extended sell-off on the day, Bitcoin should stay away from below $48,000. The second major support level is at $47,689.