Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Bob Mason
crypto currency mining concept

Bitcoin, BTC to USD, fell by 0.69% on Sunday. Following a 6.85% rally on Saturday, Bitcoin ended the week up by 12.01% to $26,241.0.

It was another mixed start to the day. Bitcoin fell to an early morning low $26,393.0 before making a move.

Steering clear of the first major support level at $25,027, Bitcoin rallied to a late morning intraday high and a new swing hi $28,244.0.

Bitcoin broke through the first major resistance level at $27,261 and the second major resistance level at $28,109.

An afternoon pullback, however, saw Bitcoin slide to a late intraday low $25,813.0 before a partial recovery to $26,200 levels. In spite of the late pullback, Bitcoin steered clear of the first major support level at $25,027.

The near-term bullish trend remained intact, supported by the latest breakthrough to $28,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $13,261 to form a near-term bearish trend.

The Rest of the Pack

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

Chainlink rallied by 10.52% to lead the way, with Ethereum rising by 7.42%. Bitcoin Cash SV also bucked the trend, with a 0.58% gain, while Binance Coin ended the day flat.

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

Ripple’s XRP fell by 3.76% to lead the way down.

Cardano’s ADA (-2.27%), Crypto.com Coin (-3.53%), Litecoin (-1.51%), and Polkadot (-0.17%) also saw joined Bitcoin in the red.

It was also a mixed week for the majors.

Ripple’s XRP slid by 49% to lead the way down.

Binance Coin (-2.01%), Bitcoin Cash SV (-9.80%), Cardano’s ADA (-4.50%), Chainlink (-7.13%), Crypto.com Coin (-14.58%), and Polkadot (-11.39%) also saw red.

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

Litecoin rallied by 11.30% to lead the pack, with Ethereum (+7.20%) also joining Bitcoin in the green.

In the week, the crypto total market cap slid to a Wednesday low $590.85bn before surging to a Sunday high $754.26bn. At the time of writing, the total market cap stood at $711.83bn.

Bitcoin’s dominance rose from a Monday low 66.74% to a Sunday high of 72.06%. At the time of writing, Bitcoin’s dominance stood at 70.23%.


This Morning

At the time of writing, Bitcoin was up by 2.33% to $26,852.0. A mixed start to the day saw Bitcoin fall to an early morning low $26,068.1 before rising to a high $26,948.0.

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

Elsewhere, it was also a bullish start to the day.

At the time of writing, Ethereum was up by 3.36% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $26,766 to bring the first major resistance level at $27,719 into play.

Support from the broader market would be needed for Bitcoin to break out from $27,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $28,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $29,000 before any pullback. The second major resistance level sits at $29,197.

Failure to avoid a fall back through the $26,766 pivot would bring the first major support level at $25,288 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$25,000 levels. The second major support level sits at $24,335.

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

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.