FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
crypto currency mining concept

Bitcoin, BTC to USD, rose by 0.88% on Friday. Following on from a 1.39% gain on Thursday, Bitcoin ended the day at $13,568.0.

Advertisement
Know where Bitcoin is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $13,673.0 before hitting reverse.

Falling short of the first major resistance level at $13,729, Bitcoin slid to a mid-morning intraday low $13,120.0

Steering clear of the first major support level at $13.072, Bitcoin rose to a late afternoon high $13,673.0 before easing back.

The near-term bullish trend remained intact, supported by the latest move through to $13,000 levels. 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 bearish day on Friday.

Binance Coin and Crypto.com Coin slid by 4.52% and by 5.88% to lead the way down.

Bitcoin Cash SV (-2.30%), Cardano’s ADA (-1.92%), Chainlink (-1.65%), Ethereum (-1.22%), Litecoin (-1.55%), and Ripple’s XRP (-1.36%) also struggled.

Bitcoin Cash ABC (-1.06%) and Polkadot (-0.33%) saw relatively modest losses on the day.

In current the week, the crypto total fell to a Wednesday low $377.69bn before striking a Friday high $585.96. At the time of writing, the total market cap stood at $394.82bn.

Bitcoin’s dominance rose to a Friday high 64.16% before sliding to a Saturday low 43.18%. At the time of writing, Bitcoin’s dominance stood at 63.90%.

Advertisement

This Morning

At the time of writing, Bitcoin was up by 0.38% to $13,619.0 A mixed start to the day saw Bitcoin fall to an early morning low $13,525.0 before rising to a high $13,649.0.

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

Elsewhere, it was another mixed start to the day. Cardano’s ADA (-0.05%) and Crypto.com Coin (-1.18%) bucked the trend early on.

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

At the time of writing, Litecoin was up by 1.35% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $13,454 to bring the first major resistance level at $13,787 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $13,700 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of another crypto breakout, Bitcoin could test resistance at $14,000 before any pullback. The second major resistance level sits at $14,007.

Failure to avoid a fall through the $13,454 pivot would bring the first major support level at $13,234 into play.

Barring another extended crypto sell-off, Bitcoin should steer well clear of sub-$13,000 levels. The second major support level sits at $12,901.

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

Trade With A Regulated Broker