Bitcoin surged forward by 0.83% to $15,438.4 on Wednesday. After a mixed start of the day, the crypto tumbled down to an early morning low $15,292.0 before soaring to a high $15,439.0. It also left the major support and resistance levels untested thus far.
The Crypto market traded in bullish territory on Wednesday. Most of the majors ended the session in the green. Litecoin rallied by 3.11%, gaining the most.
On the other hand, Bitcoin tumbled down by 0.17% on Tuesday. The crypto ended in the red on Monday as well, declining by 1.07%. It ended Tuesday’s session at $15,311.5.
Bitcoin started the day range-bound. However, the crypto skyrocketed to a late morning intraday high $15,474.0 before reversing course. Furthermore, Bitcoin plummeted down to a mid-afternoon intraday low $15,077.0 after falling short of the first major resistance level at $15,839.
The crypto also steered clear of the first major support level at $14,836. But it rebounded to $15,400 levels before falling back into the red.
Thus far, the near-term bullish trend remains intact as the latest move through to $15,000 levels supported it. The crypto would need to drop through the 62% FIB of $6,400 to form a near-term bearish trend.
Bitcoin’s dominance jumped to a Monday high 65.22% before tumbling down to a Tuesday low 64.25%. On Wednesday, Bitcoin’s dominance stood at 64.53%.
To bring the first major resistance level at $15,498 into play, Bitcoin would need to avoid a drop through the pivot level at $15,288. However, the crypto needs more support from the broader market to break back through to $15,500 levels.
How did the other major crypto fare?
The rest of the major digital coins fluctuated on Tuesday. Bitcoin Cash ABC tumbled down by 2.49%, while Bitcoin Cash SV declined by 1.94%. Furthermore, Crypto.com Coin plummeted down by 0.86%, and Litecoin lost 2.23%. All of them traded in the red during the session.
On the other hand, other major cryptos rallied on Tuesday. Chainlink surged forward by 4.24%, leading the way. Ethereum also soared by 1.36%, while Polkadot skyrocketed by 1.83%, and Ripple’s XRP rallied by 1.41%. All of them managed to find relatively strong support.
Meanwhile, Binance Coin climbed up by 0.51%. Cardano’s ADA added 0.31% as well, gaining modestly on the day.
During the current week, the crypto total market cap surged forward to a Monday high $454.30bn before plummeting down to a Monday low $421.37bn. On Wednesday, the total market cap stood at $443.16bn, though.
- Trading Instrument