Bitcoin rallied by another 1.64% after hitting record highs

Bitcoin rallied by another 1.64% after hitting record highs

Bitcoin surged forward by 1.64% to $48,795.0 on Friday. After a mixed start of the day, the crypto tumbled down to an early morning low $47,987.0 before hitting a new swing hi $48,945.0. However, it left the major support and resistance levels untested thus far.

On Thursday, Bitcoin skyrocketed by 7.07%. After reversing a 3.54% plunge from Wednesday, the crypto ended the day at $48,008. However, it started that day on the bearish territory, tumbling to an early morning intraday low $43,917.4 before moving again.

Bitcoin also steered clear of the first major support level at $43,284, but then it jumped to a late intraday high and a new swing hi $48,598.0.

Furthermore, the crypto managed to break through the first major resistance level at $46,890 before dropping back to sub-$46,000 levels. Despite that fall, it found late support and moved back through to $48,000 levels, delivering the upside on the day.

Thus far, the near-term bullish trend remained intact as of Thursday’s new swing hi $48,598.0 supported it. The crypto would need to plunge through the 62% FIB of $21,036 to form a near-term bearish trend.

Bitcoin’s dominance rallied to a Tuesday high of 64.76% before dropping to a Wednesday low of 61.13%, though. On Friday, Bitcoin’s dominance sat at 62.79%.

The crypto will need to avoid a drop through the $46,841 pivot level if traders want to bring the first major resistance level at $49,765 into play.

How did the other digital coins fare? 

The crypto market fluctuated on Friday. Binance Coin declined by 0.86%, while Cardano’s ADA lost 0.36%, and Chainlinkshaved off 1.31%. At the same time, Polkadot dropped down by 1.31%, and Ripple’s XRP lowered by 0.37%, ending in the red.

On the other hand, the rest of the majors traded on the bullish territory. Crypto.com Coin surged forward by 3.28%, leading the way.

Thursday’s session was mixed for the major cryptos, as well. Binance Coin plummeted by 3.66%, leading the way down. Cardano’s ADA tumbled down by 1.44%, and Polkadot lost 0.97%, ending in the red. But other majors traded in the green during the session.

Crypto.com Coin skyrocketed by 15.5%, leading the way. Bitcoin Cash SV surged forward by 8.08%, and Chainlinkrallied by 3.89%. Besides, Ripple’s XRP jumped by 4.80%, also finding strong support. Ethereum climbed up by 2.57%, and Litecoin added 2.84%, both trailing the front runners.

The crypto total market cap tumbled down to a Monday low $1,145.36bn before soaring to a Thursday high $1,481.62bn during the current week. On Friday, the total market cap sat at $1,442.71bn.

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