FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
30,974,633Confirmed
960,834Deaths
22,569,709Recovered
Fetching Location Data…
Advertisement
Advertisement
Bob Mason
Closeup hand holding bitcoin over the Cryptocurrency trading scr

Bitcoin rose by 0.63% on Saturday. Partially reversing a 0.90% fall from Friday, Bitcoin ended the day at $9,371.3.

It was a mixed start to the day. Bitcoin rose to an early morning high $9,357.0 before hitting reverse.

Falling short of the major resistance levels, Bitcoin slid to a late morning intraday low $9,178.0.

Bitcoin fell through the first major support level at $9,220.30 before striking a late morning intraday high $9,406.6.

Falling short of the first major resistance level at $9,427.40, Bitcoin fell back to sub-$9,300 levels before finding late support.

Steering clear of the major support levels, Bitcoin bounced back to $9,400 levels before easing back.

The near-term bullish trend remained intact in spite of 3 consecutive days in the red mid-week. Bitcoin continued to hold above the 23.6% FIB of $8,900.

For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Bitcoin Cash ABC (-0.67%), Cardano’s ADA (-0.20%), Monero’s XMR (-0.11%), Stellar’s Lumen (-0.17%), and Tezos (-0.13%) saw red on the day.

It was a relatively bullish day for the rest of the majors, however.

Bitcoin Cash SV (+1.19%), Litecoin (+1.80%), and Tron’s TRX (+1.19%) led the way.

Binance Coin (+0.88%), EOS (+0.46%), Ethereum (+0.06%), and Ripple’s XRP (+0.48%), saw modest gains on the day.

Through the current week, the crypto total market cap fell to a Monday low $245.97bn before rising to a Wednesday high $267.65bn. At the time of writing, the total market cap stood at $260.69bn.

Bitcoin’s dominance rose to a Monday high 66.60% before sliding to a Wednesday low 65.79%. At the time of writing, Bitcoin’s dominance stood at 66.16%.

Advertisement

This Morning

At the time of writing, Bitcoin was up by 0.13% to $9,383.7. A mixed start to the day saw Bitcoin rise to an early morning high $9,394.2 before falling to a low $9,355.4

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Tezos and Tron’s TRX struggled, with losses of 0.37% and 0.26% respectively.

It was bullish for the rest of the majors, however, with Binance Coin up by 0.50% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $9,320 pivot to support a run at the first major resistance level at $9,459.27.

Support from the broader market would be needed, however, for Bitcoin to break out from Saturday’s high $9,406.6. Resistance at $9,500 has continued to pin Bitcoin back since 11th June.

Barring a broad-based crypto rally, the first major resistance level at $9,459.27 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,547.23.

Failure to avoid a fall through the $9,320 pivot level could see Bitcoin struggle on the day.

A fall through to sub-$9,300 levels would bring the first major support level at $9,230.67 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$9,000 levels. The second major support level at $9,090.03 should limit any downside.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk