FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Bitcoin, BTC to USD, slid by 3.29% on Saturday. Reversing a 0.39% gain from Friday, Bitcoin ended the day at $57020.0.

A bullish start to the day saw Bitcoin rise to a late morning intraday high $59,841.0 before hitting reverse.

Falling short of the first major resistance level at $60,000, Bitcoin slid to a final hour intraday low $56.872.0.

Bitcoin fell through the first major support level at $58,128 and the second major resistance level at $57,297.

Finding late support, Bitcoin moved back through to $57,000 levels to reduce the deficit on the day.

In spite of the move back through to $57,000 levels, Bitcoin failed to break back through the second major support level.

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 mixed day on Saturday.

Polkadot rallied by 4.17% to buck the trend on the day.

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

Bitcoin Cash SV (-8.66%), Chainlink (-9.83%), and Litecoin (-7.60%) led the way down.

Binance Coin  (-4.87%), Cardano’s ADA (-2.42%), Ethereum (-5.86%), and Ripple’s XRP (-4.53%) also struggled

Crypto.com Coin ended the day flat, however.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Saturday high $1,932bn. At the time of writing, the total market cap stood at $1,802bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Saturday low 57.79%. At the time of writing, Bitcoin’s dominance stood at 58.86%.

Advertisement

This Morning

At the time of writing, Bitcoin was down by 0.66% to $56,642.2. A bearish start to the day saw Bitcoin fall from an early morning high $57,030.0 to a low $56,550.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 6.50% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $57,911 to bring the first major resistance level at $58,950 into play.

Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,000 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 $60,880.

Failure to move through the $57,911 pivot would bring the first major support level at $55,981 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$55,000 support levels. The second major support level sits at $54,942.

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