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The Crypto Daily — December 1st, 2021 Movers & Shakers
After a mixed session on Tuesday, Bitcoin would need to break out from $58,500 levels in order to put $60,000 levels into play and provide support to the broader market.
On Tuesday, Bitcoin BTC to USD decreased by 1.51%. Bitcoin concluded the day at $56,966, reversing a 0.89 percent gain from the previous day.
Bitcoin fell to a mid-morning intraday low of $55,899 before making a move after a gloomy start to the day.
Bitcoin fell through the first major support level at $56,773 before rebounding to a mid-afternoon intraday high of $59,174. Bitcoin broke over the first big resistance mark at $58,897 before sliding back to close the day at levels below $57,000.
Despite the recent retreat to sub-$54,000 levels, the near-term bullish trend has stayed intact. To develop a near-term negative trend, Bitcoin would need to fall through the 62 percent FIB of $28,814 on a consistent basis.
The Rest of the Pack
Monday was a mixed bag for the remainder of the majors.
Ethereum (+4.16%) and Polkadot (+3.78%) lead the charge.
Support was also discovered for Chainlink (+1.25 percent), Litecoin (+1.05 percent), and Ripple’s XRP (+0.86 percent).
