Bitcoin tumbled down by 0.50% to $19,361.0 on Wednesday. After a mixed start of the day, the crypto surged forward to an early morning high $19,481.0 before plunging to a low $19,317.8. It also left the major support and resistance levels untested thus far.
On Tuesday, Bitcoin soared by 0.92%. After rallying by 0.53% on Monday, the crypto ended the day at $19,459.0. However, it fluctuated during the session, jumping to an early morning high $19,570.0 before pulling back.
Bitcoin also managed to break through the first major resistance level at $19,418, as well as the second major resistance level at $19,555. But after the reversal, Bitcoin plummeted down to a mid-morning intraday low $19,070.0 before moving again.
Despite that, the crypto managed to find support at the first major support level at $19,077 and skyrocketed to a late afternoon intraday high $19,607.0. Furthermore, it broke back through the first major resistance level at $19,418, along with the second major resistance level at $19,555.
However, Bitcoin plunged back through the major resistance levels to sub-$19,400, ending the day at $19,450 levels.
Thus far, the near-term bullish trend remains intact as the recovery to $19,000 levels supports it. The crypto would need to plunge through the 62% FIB of $10,095 to form a near-term bearish trend.
However, Bitcoin’s dominance tumbled down to a Monday low 64.21% before jumping to a Tuesday high 64.85%. On Wednesday, Bitcoin’s dominance sat at 64.80%.
How did the other cryptos fare?
The Crypto market fluctuated during Wednesday’s session. Bitcoin Cash SV surged forward by 0.97%, but the rest of the majors traded on the bearish territory. On Wednesday, Chainlink and Ripple’s XRP plummeted down by 2.19% and by 2.16%, leading the way down.
Digital coins traded on the mixed territory on Tuesday as well. Ripple’s XRP tumbled down by 5.85%, leading the way down once more. Meanwhile, Cardano’s ADA plunged by 3.08%, while Binance Coin dropped down by 1.70%, and Chainlink shaved off 1.17%. Litecoin also declined by 1.24%, struggling during the session.
On the other hand, the rest of the majors traded in the green during the session. Bitcoin Cash SV soared by 0.95%, and Crypto.com Coin climbed up by 2.14%. Furthermore, Ethereum increased by 0.46%, and Polkadot skyrocketed by 6.00%, bucking the trend on the day.
During the current week, the crypto total market cap dropped to a Monday low $545.05bn before soaring to a Tuesday high $566.22bn. On Wednesday, the total market cap sat at $554.81bn.
- Trading Instrument