Bitcoin (BTC)CryptocurrencyETH (Ethereum)Price Analysis

Today Crypto Shakers and Movers – 11 August

After the pullbacks that Bitcoin saw on Tuesday, the leading coin will have to overpower the $46,000 mark to support the broader market.

A mixed yesterday had BTC rising to $46,695.0 high before reversing.

The largest coin by market dominance dropped to $44,635 low in the afternoon after failing to break the crucial resistance at $47,550.

Meanwhile, Bitcoin managed to conquer the $43,902 support to climb towards $45,800 before dropping.

However, the crypto still retains its short-term bullish trend, affirmed by BTC’s recent return to $46K. For bearish to overtake the Bitcoin space, the asset will require extended losses to break below $27,237, 62% Fibonacci. That would confirm short-term bearishness.

Other Assets

Top cryptocurrencies had mixed trading sessions on Tuesday.

Litecoin (0.52% plunge) and Ethereum (0.64% drop) followed BTC with slight losses.

Meanwhile, other alternative coins had bullish moves.

Cardano led the gainers, surging 13.74%. Binance Coin (4.96% gain) and Ripple (4.31% up) made substantial gains also.

Other altcoins that followed the front runners are Polkadot (1.71% up), Coin (0.45% surge), and Chainlink (1.43% increase).

The overall market started the week by plunging to $1.696 billion on Monday and rising to $1.897 billion yesterday. While writing this content, the total market cap stands at around $1.848 billion.

Bitcoin had its dominance rising to 47.44% on Monday before plunging to 46.27% on Tuesday. For now, the asset’s dominance hovers at 46.43%.

Today Morning

While writing this article, Bitcoin traded at $45,676 after a 0.14% rise. Meanwhile, mixed morning sessions had BTC falling to $45,486 earlier before climbing to $45,678.

Keep in mind that BTC did not test the critical resistance and support zones early on.

Other cryptocurrencies show bullishness today.

For now, Coin led the way gaining 1.79%.

Bitcoin’s Day Ahead

Bitcoin bulls need to prevent sliding through the pivot at $45,647 to test the massive resistance zone at $46,660.

However, broader market support is essential for the asset to overcome the $46K levels.

Excluding the total market rally, the $46,695 Bitcoin’s resistance and Tuesday’s high might cap the coin’s uptrend.

In cases of the continuous rally, BTC might test the $48,000 resistance before pullbacks surface.

Stay tuned for more crypto updates.

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