The Crypto Daily – Movers and Shakers -25/05/20

Fibo Quantum

Bitcoin slid by 5.08% on Sunday. Reversing a 0.15% gain from Saturday, Bitcoin ended the week down by 9.91% to $8,710.10.

A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $9,300.0 before hitting reverse.

Bitcoin came up against the first major resistance level at $9,295.47 before falling to a late afternoon low $8,859.2.

The reversal saw Bitcoin fall through the first major support level at $9,064.27 and the second major support level at $8,952.93.

Finding late support, Bitcoin briefly recovered to a high $9,075 before a final hour sell-off.

The sell-off saw Bitcoin slide back through the first major support level and second major support level to an intraday low $8,688.0.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was also a bearish end to the week on Sunday.

Cardano’s ADA slid by 6.80% to lead the way down.

Bitcoin Cash ABC (-5.47%), Litecoin (-4.08%), Monero’s XMR (-4.06%), Stellar’s Lumen (-4.74%), Tezos (-4.31%), and Tron’s TRX (-5.15% weren’t far behind.

Binance Coin (-3.09%), Bitcoin Cash SV (-3.77%), EOS (-2.84%), Ethereum (-3.38%), and Ripple’s XRP (-3.27%) saw relatively modest losses on the day.

Sunday’s sell-off delivered mixed results for the week, however.

Cardano’s ADA and Tezos bucked the trend, with gains of 0.20% and 0.81% respectively, Monday through Sunday.

It was a week in the red for the rest of the majors, however.

Bitcoin Cash ABC and Stellar’s Lumen led the way down, with losses of 7.72% and 7.04% respectively.

EOS (-4.92%), Monero’s XMR (-6.72%), Ripple’s XRP (-4.45%), and Tron’s TRX (-5.43%) weren’t far behind.

Binance Coin (-1.90%), Bitcoin Cash SV (-2.71%), Ethereum (-3.58%) and Litecoin (-3.75%) saw relatively modest losses for the week.

In the week, the crypto total market cap rose to a Monday low $268.50bn before falling to a Sunday low $239.63bn. At the time of writing, the total market cap stood at $242.29bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Sunday low 66.51%. At the time of writing, Bitcoin’s dominance stood at 66.64%.