The Crypto Daily Movers and Shakers 20/01/20

Bitcoin fell by 2.17% on Sunday. Reversing a 0.18% gain from Saturday, Bitcoin ended the week up 6.41% at $8,698.7.

A bullish start to the day saw Bitcoin rally to an early morning intraday high $9,169.5.

Bitcoin broke through the first major resistance level at $8,974.03 and second major resistance level at $9,056.47 before hitting reverse.

The reversal saw Bitcoin fall through the major support levels to a late morning intraday low $8,450.0.

Finding support in the 2ndhalf of the day, Bitcoin struck $8,750 levels late on before easing back.

Bitcoin broke back through the third major support level at $8,534.77 and the second major support level at $8,708.67 before easing back to sub-$8,700 levels.

The near-term bearish trend, formed at late Junes swing hi $13,764.0, remained firmly intact, in spite of the gain for the week.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Bitcoin Cash SV bucked the trend, rallying by 12.14%.

It was particularly bearish for the rest of the pack, with Trons TRX (-5.93%) and EOS (-4.82%), Litecoin (-4.48%), and Ethereum (-4.19%) leading the way down.

Binance Coin (-2.31%), Moneros XMR (-2.91%), Ripples XRP (-2.98%), also struggled on the day.

Bitcoin Cash ACB and Stellars Lumen saw modest losses of 0.56% and 1.87% respectively.

While it was another mixed bag on Sunday, it was a bullish week for the crypto majors.

Bitcoin Cash SV led the way, rallying by 70.17%, with Bitcoin Cash ABC and Stellars Lumen up by 24.77% and by 22.77% respectively.

Whilst the rest of the majors saw more modest gains, it was double-digit gains across the board.

Through the current week, the crypto total market cap rallied from a Monday low $215.38 to a Sunday week high $250.2bn. At the time of writing, the total market cap stood at $238.72bn.

Bitcoins dominance held onto 66% levels following the bearish Sunday. Trading volumes continued to ease back from $177bn levels hit in the early part of the week. At the time of writing, 24-hr volumes stood at $123.19bn.

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