The Crypto Daily – Movers and Shakers – August 16th, 2020

Fibo Quantum

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $11,991.5 before hitting reverse.

The early rally saw Bitcoin break through the first major resistance level at $11,874 and the second major resistance level at $11,972.5.

A pullback through the morning saw Bitcoin slide to a mid-day intraday low $11,689.5.

Steering clear of the first major support level at $11,667, Bitcoin revisited $11,980 levels before easing back.

Bitcoin broke back through the first and second major resistance levels before wrapping up the day at sub-$11,900 levels.

The near-term bullish trend remained intact, supported by the latest move through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day for the majors on Saturday.

EOS rallied by 14% to lead the way, with Bitcoin Cash SV (+4.82%) and Litecoin (+5.38%) seeing solid gains.

Bitcoin Cash ABC (+1.60%), Stellar’s Lumen (+2.02%), and Tron’s TRX (+2.1%) also joined Bitcoin in the green.

Binance Coin (-0.13%), Cardano’s ADA (-0.01%), Ethereum (-1.43%), Monero’s XMR (-1.92%), Ripple’s XRP (-0.55%), and Tezos (-1.16%) saw red on the day, however.

In the current week, the crypto total market cap fell to a Tuesday low $328.26bn before rising to a Saturday high $368.44bn. At the time of writing, the total market cap stood at $361.29bn.

Bitcoin’s dominance rose to a Monday high 62.63% before sliding to a Saturday low 60.06%. At the time of writing, Bitcoin’s dominance stood at 60.58%.