The Crypto Daily – Movers and Shakers – February 27th, 2021 – FX Empire

A mixed start to the day saw Bitcoin fall to a late morning intraday low $44,027.0 before making a move.

The reversal saw Bitcoin fall through the first major support level at $45,212 and the 23.6% FIB of $45,501.

Finding late morning support, Bitcoin rose to a late afternoon intraday high $48,441.0 before hitting reverse.

Falling well short of the first major resistance level at $50,651, Bitcoin slid back to sub-$47,000 levels and into the red.

Despite the late sell-off, Bitcoin avoided a fall back through the 23.6% FIB and the major support levels.

The near-term bullish trend remained intact in spite of the current week reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.

The Rest of the Pack

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

Cardano’s ADA rallied by 15.62% to lead the way.

Bitcoin Cash SV (+2.20%), Chainlink (+2.08%), and Polkadot (+2.42%) also ended the day in the green.

It was a bearish day for the rest of the majors, however.

Binance Coin (-5.50%), Coin (-6.87%), Litecoin (-5.07%) led the way down.

Ethereum (-2.49%), and Ripple’s XRP (-1.54%) saw relatively modest losses on the day.

In the current week, the crypto total market cap rose to a Monday high $1,748.98bn before sliding to a Tuesday low $1,291.06bn. At the time of writing, the total market cap stood at $1,417.61bn.

Bitcoin’s dominance rose to a Tuesday high 64.74% before falling to a Wednesday low 61.25%. At the time of writing, Bitcoin’s dominance stood at 62.03%.

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