Bitcoin surged forward by 4.91% on Wednesday, ending the day at $11,735.8. The crypto fluctuated during the session. It tumbled down to an early morning intraday low $11,085 before making a move.
The crypto skyrocketed to a late intraday high $11,800 after steering clear of the first major support level at $10,993. It also managed to break through the first major resistance level at $11,386, along with the second major resistance level at $11,587.
After a late pullback, Bitcoin plunged through the second resistance level for a short time before ending the day at $11,700 levels.
On Thursday, Bitcoin decreased by 0.82% to $11,639.5. The crypto soared to an early morning high $11,799.0 before plummeting down to a low $11,605.0. It also left the major support and resistance levels untested.
Thus far, the near-term bullish trend remained intact, as the latest move through to $11,000 levels supported it. Bitcoin would need to drop through the 62% FIB of $6,400 to form a near-term bearish trend.
Bitcoin’s dominance slid from a Monday high 62.46% to a Tuesday low 61.24%. On Thursday, Bitcoin’s dominance stood at 62.38%.
How did other cryptos fare?
The cryptocurrency market fluctuated on Wednesday. Several digital coins rallied. Binance Coin and Monero’s XMR skyrocketed by 4.48% and 3.59%, respectively.
Ethereum surged forward by 2.94%, and Bitcoin Cash ABC soared by 2.71%, while Bitcoin Cash SV added 2.89%. EOS also gained 0.71%, and Litecoin jumped by 2.29%. Meanwhile, Ripple’s XRP climbed up by 0.38%.
However, other major digital coins traded on the bearish territory. Cardano’s ADA lowered by 0.99% and Stellar’s Lumen plummeted down by 2.66%. Tezos also collapsed by 4.04%, and Tron’s TRX declined by 0.68%.
On Thursday, Tezos managed to recover some losses, rising by 1.49%. But other cryptos continued trading in the red. Binance Coin dropped by 1.59%, leading the way down.
During the week, the crypto total market cap soared from a Monday low $323.88bn to a Wednesday high $352.79bn. On Thursday, the total market cap stood at $344.35bn.
- Trading Instrument