The crypto daily newspaper – originator and shaker – 05/01/2020

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Bitcoin slipped 0.02% on Saturday. After a 5.46% rally on Friday, the day ended at $ 7,369.8.

<p class = "canvas-atom canvas-text Mb (1,0em) Mb (0) – sm Mt (0,8em) – sm" type = "text" content = "Bitcoin moved through the 1st half of the day before a chopper 2nd helped. "data-reactid =" 12 "> Bitcoin moved through the 1st in a particularly narrow rangest half of the day before a chopper 2nd Half.

Through the morning, an early low of $ 7,325.1, Bitcoin managed to stay away from key support levels before hitting a high of $ 7,395.7 in the morning.

Bitcoin lagged key resistance levels before hitting an intraday high of $ 7,422.0 in the late afternoon.

Bitcoin remained below the first major resistance level of $ 7,574.3 and fell to an intraday low of $ 7,297.3 in the late afternoon.

After the first major support level of $ 7,038.7, a recovery to $ 7,300 limited the day's downtrend.

The short-term bearish trend, which started at $ 13,764.0 in late June, remained firm and was reaffirmed when Bitcoin fell below $ 7,000 earlier this week.

For the bulls, Bitcoin would have to break out of $ 11,000 to form a short-term uptrend.

The rest of the pack

In the remaining top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV was at the top with a plus of 6.05%.

Binance Coin (+ 1.10%), Bitcoin Cash ABC (+ 1.25%), EOS (+ 0.08%), Litecoin (+ 1.26%) and Tron's TRX (+ 0.29%) also saw green off.

However, it was bearish for the rest of the pack. Tezos went ahead with a minus of 1.91%. With the continued decline, Tezos dropped to 14th place in terms of market capitalization. A visit to the top 10 was short.

Ethereum (-0.02%), Ripples XRP (-0.26%) and Stellar's lumens (-0.35%) also hit the red in Bitcoin.

Crypto market cap recovered from a Thursday low of $ 185.26 billion this week. A bullish start to the day on Sunday led to market cap reaching a current weekly high of $ 199.54 billion. At the time of writing, the total market cap was $ 199.53 billion.

Bitcoin continued to dominate at 68% after relatively small losses on Saturday and this week. Trading volume reached $ 90 billion on Saturday before dropping below $ 70 billion again. At the time of writing, the volume was $ 65 billion.

This morning

At the time of writing, Bitcoin rose 1.61% to $ 7,488.4. A bullish start to the day led Bitcoin to rally from an early morning low of $ 7,369.9 to a high of $ 7,499.0.

Bitcoin broke the first major resistance level at $ 7,428.77 and the second major resistance level at $ 7,487.73.

Elsewhere it was a green sea over the crypto board.

EOS was up 2.11% early.

Binance Coin (+ 1.69%), Bitcoin Cash ABC (+ 1.23%), Bitcoin Cash SV (+ 1.81%), Ethereum (+ 1.24%) and Trons TRX (+ 1.76%) also posted solid gains.

Stellar's lumen was behind the pack early and only increased by 0.85%.

For the Bitcoin Day Ahead

Bitcoin would have to return to the $ 7,500 level to support a run at the third major resistance level at $ 7,612.43.

Support from the broader market would be needed for Bitcoin to break out of a $ 7,500 level.

Except for an extended crypto rally that day, resistance at $ 7,500 would likely limit the upward trend.

If you don't move to a level of $ 7,500, Bitcoin could hit backwards.

A fall from the second major support level at $ 7,487.73 would put the first major resistance levels and levels below $ 7,400 into play.

Aside from a crypto meltdown, Bitcoin should leave the first important support level at $ 7,304.07.

In the event of a sellout, a visit below $ 7,300 is expected before a recovery.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This items was originally published on FX Empire "data-reactid =" 49 "> This article was originally published on FX Empire

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