Bitcoin lowered by 2.26% to $5,293.7 today. The crypto fluctuated in the morning, first soaring to $5,475.0 and then sliding down to $5,274.5. So far, it left the major support and resistance levels untested.
Before that, Bitcoin rose by 1.44% on Wednesday. It ended the day at $5,416.2 after gaining a 5.55% on Tuesday. The crypto hit high of $5,459.3 in an early morning today before beginning slide down once again. It traded during the morning intraday as low as $5,033.0, until clearing the first major support level at $5,006.0.
After the crypto found support from the broader market, it skyrocketed to an early afternoon intraday high at $5,488.0, before easing back once again. However, Bitcoin couldn’t surpass the major resistance level at $5,622.5, and it fell back to sub-$5,200 levels, finishing in the red before a late rebound.
So far, the near-term bearish trend remains firmly intact. Bitcoin would need to break out from $10,000 levels for the bulls to form a short-term bullish trend.
Wednesday was the bullish day for most of the major cryptos. Bitcoin Cash SV gained the most, rallying by 2.7%. Ethereum added 2.19%, while Monero’s XMR rose by 2%. Tezos wasn’t far behind with a 2.38% rise.
Meanwhile, EOS soared by 1.68%, and Litecoin gained 1.96%. Binance Coin increased by 1.07%, with Bitcoin Cash ABC rising by 0.73%. Cardano’s ADA and Tron’s TRX added 0.81%
and 1.00%, respectively.
However, other cryptos started the day with a bearish trade. Bitcoin Cash SV suffered the most prominent loss at 4.16%. Stellar’s Lumen also fell by 1.59%.
The crypto total market cap hit a Monday high $164.76bn before sliding to a low $131.81bn during the first half of the week.
Nonetheless, the market cap rebounded to $153.9bn levels on Tuesday and Wednesday before easing back again. Presently the total market cap stands at $152.23bn.
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