FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
113,123,466Confirmed
2,509,229Deaths
88,736,508Recovered
Fetching Location Data…
Advertisement
Advertisement
Bob Mason
Bitcoin and Litecoin over dollar banknotes.

Bitcoin, BTC to USD, rallied by 5.98% on Tuesday. Following on from a 1.35% gain on Monday, Bitcoin ended the day at $35,577.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,500.0 before making a move.

Steering clear of the 23.6% FIB of $33,008 and the first major support level at $32,364, Bitcoin rallied to a late intraday high $36,054.0.

Bitcoin broke through the first major resistance level at $34,738 and the second major resistance level at $35,909.

A late pullback, however, saw Bitcoin fall back through the second major resistance level to end the day at sub-$35,600 levels.

The near-term bullish trend remained intact, in spite of the recent pullback to sub-$40,000. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

The Rest of the Pack

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

Binance Coin (-0.78%) and Polkadot (-1.27%) saw red to buck the trend on the day.

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

Ethereum jumped by 10.12% to lead the way, with Litecoin rallying by 7.65%.

Bitcoin Cash SV (+3.13%), Cardano’s ADA (+4.11%), Chainlink (+3.49%), and Crypto.com Coin (+4.01%) also found strong support.

Ripple’s XRP (+0.34%) trailed the front runners, however.

At the start of the week, the crypto total market cap fell to a Monday low $939.07bn before rising to a Tuesday high $1,080.74bn. At the time of writing, the total market cap stood at $1,066.34bn.

Bitcoin’s dominance fell to a Monday low 61.48% before rising to a Monday high 64.10%. At the time of writing, Bitcoin’s dominance stood at 63.12%.

Advertisement

This Morning

At the time of writing, Bitcoin was up by 1.73% to $36,192.0. A mixed start to the day saw Bitcoin fall to an early morning low $35,485.0 before rising to a high $36,305.1

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

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

Cardano’s ADA (-0.44%), Chainlink (-0.14%), and Polkadot (-1.23%) saw red early on to buck the trend.

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

At the time of writing, Litecoin was up by 5.25% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $35,044 to bring the first major resistance level at $36,587 into play.

Support from the broader market would be needed for Bitcoin to break out from this morning’s high $36,305.1.

Barring an extended crypto rally, the first major resistance level and resistance at $37,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $38,000 before any pullback. The second major resistance level sits at $37,598.

Failure to avoid a fall through the $35,044 pivot would bring the first major support level at $34,033 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$34,000 levels and the 23.6% FIB of $33,008. The second major support level sits at $32,490.

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