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The Crypto Daily — December 7th, 2021 — Movers and Shakers
Following a positive day for the overall market, a Bitcoin breakout from $52,000 levels would provide support to the pack.
Bitcoin’s Day Prior
On Monday, Bitcoin BTC to USD increased by 2.10 percent. Bitcoin closed the day at $50,513 after gaining 0.47 percent on Sunday.
After a volatile start to the day, Bitcoin rose to an early morning high of $49,522 before reversing. Bitcoin fell to a late morning intraday low of $47,167, falling short of the first significant resistance mark at $50,209.
Bitcoin fell through the first key support level at $48,300 during the morning sell-off. Bitcoin soared to a late intraday high of $50,988 after finding support around the second major support level of $47,125.
Bitcoin broke past the first big barrier level of $50,209, then tested the second major resistance level of $50,943 before relaxing back.
Despite the recent retreat to $41,000 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.
