The Crypto Daily – Movers and Shakers – July 26th, 2020
At the time of writing, Bitcoin was down by 0.19% to $9,696.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,722.8 before falling to a low $9,690.4.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
At the time of writing, Bitcoin Cash ABC (+0.92%) and Bitcoin Cash SV (+0.33%) bucked the trend early on.
It was a bearish start for the rest of the majors, however.
Stellar’s Lumen was down by 1.35% to lead the way down early on.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the $9,675 pivot to support a run at the first major resistance level at $9,794.
Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,754.5.
Barring another extended crypto rally, the first major resistance level and Saturday’s high would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,874 and resistance at $10,000. The third major resistance level sits at $10,073.
Failure to avoid a fall through the $9,675 pivot level would bring the first major support level at $9,595 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major resistance level at $9,476.