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Bob Mason
Closeup hand holding bitcoin over the Cryptocurrency trading scr

Bitcoin rallied by 5.14% on Sunday. Reversing a 0.65% fall from Saturday, Bitcoin ended the week up 5.35% at $7,535.1.

A relatively bullish morning saw Bitcoin recover from a mid-morning intraday low $7,159.6 to strike a morning high $7,228.1.


The early morning move saw Bitcoin break through the first major resistance level at $7,208.83 before easing back.

Bitcoin eased to sub-$7,200 levels ahead of a particularly bullish 2nd half that saw Bitcoin strike a late intraday high $7,541.4.

Bitcoin broke through and held above the major support levels on the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin’s hold onto $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was also a mixed day for the majors.

Tezos bucked the trend on the day, falling by 0.79%.

It was a bullish session for the rest of the pack, with Tron’s TRX rallying by 9.9% to lead the way.

Bitcoin Cash ABC (+4.58%), Bitcoin Cash SV (+4.35%), EOS (+3.92%), Ethereum (+4.12%), Litecoin (+5.54%), and Stellar’s Lumen (+3.99%) also saw solid gains.

Binance Coin (+3.53%) and Ripple’s XRP (+2.54%) trailed the pack on the day.

For the week, it was also a mixed bag.

Tron’s TRX joined Bitcoin in the green, with a 6.61% gain for the week.

For the rest of the pack, it was one to forget, however.

Tezos led the way down, sliding by 12.23%.

Ethereum (-7.01%), Ripple’s XRP (-9.67%), and Stellar’s Lumen (-7.23%) also saw relatively heavy losses.

Binance Coin (-4.10%), Bitcoin Cash ABC (-4.91%), Bitcoin Cash SV (-4.91%) EOS (-0.99%), and Litecoin (-3.45%) saw more modest losses.

Through the week, the crypto total market cap slid to a low $175.14bn on Wednesday before rising to a Sunday high $198.8bn. At the time of writing, the total market cap stood at $199.50bn.

Bitcoin’s dominance hit 69% levels on Sunday before easing back. The pickup from 67% levels from early in the week came from Bitcoin’s trend-bucking gain from the week. Trading volumes bounced back from $60bn levels to $82bn levels on Sunday but still came short of $100bn levels from earlier in the week.


This Morning

At the time of writing, Bitcoin was up by 0.99% to $7,609.7. A bullish start to the day saw Bitcoin rise from an early morning intraday low $7,535.3 to a high $7,681.0.

Bitcoin broke through the first major resistance level at $7,662.2 before easing back.

Elsewhere, it was a mixed start to the day.

Tezos and Tron’s TRX led the way, with gains of 1.74% and 1.60% respectively.

Bitcoin Cash SV and Ethereum were close behind, with gains of 1.19% and 1.28% respectively.

Bucking the trend early on, however, was Stellar’s Lumen, which was down by 0.18%.

For the Bitcoin Day Ahead

Bitcoin would need to hold onto $7,600 levels to support another run at the first major resistance level at $7,662.2.

Following last week’s solid gain, support from the broader market would be needed, however for Bitcoin to break out from $7,600 levels.

Barring an extended rally throughout the day, Bitcoin would likely fall short of the second major resistance level at $7,789.3.

Failure to hold onto $7,600 levels could see Bitcoin come under pressure.

A fall back through the morning low $7,535.3 would bring $7,400 levels into play before any recovery.

Barring a broad-based sell-off, however, Bitcoin should steer clear of the first major support level at $7,287.2.

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