Bitcoin plummeted down by 3.73% to $29,719.0 on Friday. After a bearish start of the day, the crypto dropped from an early morning high $30,890.6 to a low $29,317.0. It also left the major support and resistance levels untested thus far.
On Thursday, Bitcoin, plunged by 13.06%. After losing 1.04% on Wednesday, the crypto ended the day at $30,872.0. However, it fluctuated during the session, jumping to an early morning high $35,616.0 before pulling back. The crypto also fell short of the first major resistance level at $36,858 and tumbled down to a late intraday low $30,196.0.
Furthermore, Bitcoin slid through the first major support level at $33,739, as well as the second major support level at $31,961. The crypto dropped through the 23.6% FIB of $33,008 as well.
After that, it steered clear of sub-$30,000 support levels and briefly rebounded to $31,000 levels before plunging back. Despite gaining the late support, the crypto failed to break back through the second major support level.
Thus far, the near-term bullish trend is intact though, and the latest sell-off hasn’t influenced it significantly. The crypto would need to drop through the 62% FIB of $18,504 to form a near-term bearish trend.
Bitcoin’s dominance increased to a Monday high 67.47% before tumbling to a Thursday low 64.74%. On Friday, Bitcoin’s dominance sat at 65.56%.
How did the other major digital coins fare?
Crypto market fluctuated on Friday. But that session proved especially trying for the cryptos. Bitcoin Cash SV surged forward by 0.55%. However, the rest of the majors traded on the bearish territory. Crypto.com Coin and Cardano’s ADA plummeted down by 7.05% and by 5.63% respectively, leading the way down.
Thursday’s session was mixed for the major cryptos as well. Polkadot jumped by 2.26%, bucking the trend on the day. However, it was a particularly bearish day for the rest of the digital coins. Cardano’s ADA and Ethereum plunged by 18.10% and by 19.35% respectively, leading the way down.
Litecoin and Chainlink weren’t far behind, tumbling down by 15.73% and 13.40% respectively. Meanwhile, Binance Coin dropped down by 9.43%, and Bitcoin Cash SV declined by 7.28%. Crypto.com Coin also lost 7.29%, and Ripple’s XRP plummeted down 9.43%. All of the cryptos struggled during the session.
During the current week, the crypto total market cap surged forward to a Tuesday high $1,080.72bn before dropping to an early Friday low $824.13bn. On Friday, the total market cap sat at $844.25bn.
- Trading Instrument