Bitcoin soared by 1.73% to $36,192.0 on Wednesday. After a mixed start of the day, the crypto tumbled down to an early morning low $35,485.0 before jumping to a high $36,305.1. It also left the major support and resistance levels untested thus far.
On Tuesday, Bitcoin rallied by 5.98%. After gaining 1.35% on Monday, the crypto ended the day at $35,577.0. However, it fluctuated during the session. The crypto dropped to an early morning intraday low $33,500.0 before moving again.
It also steered clear of the 23.6% FIB of $33,008, as well as the first major support level at $32,364. Afterwards, Bitcoin surged forward to a late intraday high $36,054.0.
The crypto also managed to break through the first major resistance level at $34,738, along with the second major resistance level at $35,909.
However, a late pullback caused Bitcoin to plunge back through the second major resistance level. It ended the day at sub-$35,600 levels.
Thus far, the near-term bullish trend remained intact, despite the recent pullback to sub-$40,000. The crypto would need to fall through the 62% FIB of $18,504 to form a near-term bearish trend.
Bitcoin’s dominance plummeted down to a Monday low 61.48% before soaring to a Monday high 64.10%. On Wednesday, Bitcoin’s dominance sat at 63.12%.
The crypto will need to avoid a drop through the pivot level at $35,044 if traders want to bring the first major resistance level at $36,587 into play.
How did other digital coins fare?
The crypto market fluctuated on Wednesday. Cardano’s ADA tumbled down by 0.44%, while Chainlink lost 0.14%, and Polkadot shaved off 1.23%. However, the rest of the majors traded on the bullish territory. Litecoin rallied by 5.25%, leading the way.
It was a mixed session on Tuesday, as well. Binance Coin lowered by 0.78%, and Polkadot plummeted down by 1.27%, both of them ending in the red.
On the other hand, the rest of the major digital coins traded in the green. Ethereum surged forward by 10.12%, leading the way, with Litecoin skyrocketed by 7.65%.
Bitcoin Cash SV soared by 3.13%, while Cardano’s ADA jumped by 4.11%, and Chainlink gained 3.49%. Crypto.com Coin also rallied by 4.01%, finding strong support. However, Ripple’s XRP added only 0.34%, trailing the front runners.
During the week, the crypto total market cap tumbled down to a Monday low $939.07bn before jumping to a Tuesday high $1,080.74bn. On Wednesday, the total market cap stood at $1,066.34bn.
- Trading Instrument