The Crypto Daily – Movers and Shakers – December 12th, 2020

12/12/2020 2h23

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It was a mixed start to the day. Bitcoin rose to an early morning intraday high $18,299.0 before hitting reverse.

Falling short of the first major resistance level at $18,574, Bitcoin fell to a late morning intraday low $17,629.0.

The reversal saw Bitcoin fall through the first major support level at $17,941.

Finding support at the second major support level at $17,621, Bitcoin briefly revisited $18,190 levels before ending the day at sub-$18,100.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day on Friday.

Litecoin and Ripple’s XRP slid by 3.39% and by 3.72% respectively to lead the way down.

Bitcoin Cash SV, (-2.28%), Chainlink (-2.05%), Ethereum (-2.65%) and Polkadot (-2.70%) and also saw relatively heavy losses.

Binance Coin (-1.21%), Cardano’s ADA (-1.79%), and Crypto.com Coin (-1.69%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Friday low $509.01bn. At the time of writing, the total market cap stood at $531.62bn.

Bitcoin’s dominance rose to a Wednesday high 64.26% before falling to a Wednesday low 63.03%. At the time of writing, Bitcoin’s dominance stood at 64.01%.

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