Bitcoin dropped down by 0.28% to $19,078.0 on Wednesday. After a mixed start of the day, the crypto surged forward to an early morning high of $19,198 before plummeting down to a low of $19,046.0.
On the other hand, Bitcoin rallied by 4.18% on Tuesday. After reversing a 0.10% loss from Monday, the crypto ended the day at $19,131.0. However, it fluctuated during the session, falling to a mid-morning intraday low $18,130.0 before moving.
Bitcoin also steered clear of the first major support level at $18,009, and it rallied to an early afternoon intraday high, as well as a new swing hi $19,400.0.
Furthermore, the crypto managed to break through the first major resistance level at $18,730, along with the second major resistance level at $19,087. However, Bitcoin tumbled down to wrap up the session at sub-$19,200 levels due to the bearish end of the day.
Despite that, the near-term bullish trend is still intact, the latest move through to $19,000 levels supporting it. The crypto would need to plunge through the 62% FIB of $9,883 to form a near-term bearish trend.
Bitcoin’s dominance surged forward to a Monday high 64.75% before tumbling down to a Tuesday low of 60.80%. On Wednesday, Bitcoin’s dominance sat at 62.49%.
The digital coin would need to avoid a drop through the pivot level at $18,887 for bringing the first major resistance level at $19,644 into play. Furthermore, it would require support from the broader market to break out from Tuesday’s high $19,400.0.
How did the other cryptocurrencies fare?
The Crypto market fluctuated on Wednesday. Ethereum tumbled down by 0.38%, while Ripple’s XRP plunged by 4.93%, joining Bitcoin in the red. However, other cryptos started the day on bullish territory.
On Wednesday, Binance Coin and Crypto.com Coin surged forward by 1.43% and by 1.48%, respectively, leading the pack.
On Tuesday, major cryptos traded on the mixed territory as well. Ripple’s XRP and Crypto.com Coin skyrocketed by 12.39% and by 14.37%, respectively.
Meanwhile, Binance Coin soared by 9.38%, and Bitcoin Cash SV rallied by 6.30%, while Cardano’s ADA also jumped by 8.20%, finding strong support.
Chainlink added 2.57%, and Litecoin inched forward by 0.24%, trailing the front runners. On the other hand, Ethereum plummeted down by 0.63%, and Polkadot collapsed by 6.82%, bucking the trend on the day.
During the current week, the crypto total market cap plunged to a Monday low $515.94bn before soaring to a Tuesday high $593.32bn. On Wednesday, the total market cap was set at $566.69bn.
- Trading Instrument