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Bob Mason
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Bitcoin, BTC to USD, rose by 0.39% on Friday. Reversing a 0.12% decline from Thursday, Bitcoin ended the day at $58,959.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $58,328.0 before making a move.

Steering clear of the first major support level at $57,958, Bitcoin rallied to an early morning intraday high $60,190.0.

Bitcoin broke through the first major resistance level at $59,486 before hitting reverse.

Coming within range of the second major resistance level at $60,259, Bitcoin fell back to a late in the day low $58,400.

Finding late support, however, Bitcoin broke back through to $58,900 levels to end the day in positive territory.

The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Friday.

Polkadot rallied by 9.16% to lead the way, with Bitcoin Cash SV (+7.06%), Chainlink (+7.90%), and Ethereum (+8.43%) also making solid gains.

Binance Coin  (+1.15%), Cardano’s ADA (+0.72%), Crypto.com Coin (+2.09%), Litecoin (+4.32%), and Ripple’s XRP (+6.00%) trailed the front runners.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Friday high $1,929bn. At the time of writing, the total market cap stood at $1,892bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Friday low 58.16%. At the time of writing, Bitcoin’s dominance stood at 58.61%.

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This Morning

At the time of writing, Bitcoin was up by 0.61% to $59,321.0. A mixed start to the day saw Bitcoin fall to an early morning low $58,944.0 before rising to a high $59,430.0.

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

Elsewhere, it was a mixed start to the day for the majors.

Ethereum bucked the trend early on, falling by 0.98%.

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

At the time of writing, Polkadot was up by 7.06% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $59,159 to bring the first major resistance level at $60,000 into play.

Support from the broader market would be needed for Bitcoin to break out from $59,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $60,190.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $61,021.

Failure to avoid a fall through the $59,159 pivot would bring the first major support level at $58,128 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 support levels. The second major support level sits at $57,297.

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