FXEMPIRE
All
Ad
Corona Virus
Stay Safe, FollowGuidance
World
113,100,859Confirmed
2,508,925Deaths
88,722,537Recovered
Fetching Location Data…
Advertisement
Advertisement
Bob Mason
bitcoin with us dollars and calculator

Bitcoin, BTC to USD, rose by 3.56% on Friday. Reversing a 1.90% decline from Thursday, Bitcoin ended the day at $38,260.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $36,571,6 before making a move.

Steering clear of the first major support level at $35,866, Bitcoin rallied to an early afternoon intraday high $38,366.0.

Bitcoin broke through the first major resistance level at $38,394 before a pullback to $37,200 levels.

Finding late support, Bitcoin broke back through to $38,200 levels to deliver the upside on the day.

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 bullish day on Friday.

Binance Coin and Cardano’s ADA surged by 20.75% and by 22.15% respectively to lead the way.

Bitcoin Cash SV (+6.84%), Chainlink (+7.30%), Ethereum (+7.75%), and Litecoin (+6.82%) also found strong support.

Crypto.com Coin (+5.09%), Polkadot (+2.18%), Ripple’s XRP (+1.49%) trailed the front runners, however.

In the current week, the crypto total market cap fell to a Monday low $938.94bn before rising to a Friday high $1,185.22bn. At the time of writing, the total market cap stood at $1,118.40bn.

Bitcoin’s dominance rose to a Monday high 64.11% before sliding to a Friday low 60.27%. At the time of writing, Bitcoin’s dominance stood at 61.94%.

Advertisement

This Morning

At the time of writing, Bitcoin was up by 0.93% to $38,617.0. A mixed start to the day saw Bitcoin fall to an early morning low $38,205.0 before rising to a high $38,801.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (-4.71%), Bitcoin Cash SV (-1.00%), and Ripple’s XRP (-0.93%) saw red early on.

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

At the time of writing, Crypto.com Coin was up by 3.20% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $37,700 to bring the first major resistance level at $38,828 back into play.

Support from the broader market would be needed for Bitcoin to break out from the morning high $38,801.0.

Barring an extended crypto rally, the first major resistance level and resistance at $39,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $39,494 and resistance at $40,000.

Failure to avoid a fall through the $37,700 pivot would bring the first major support level at $37,034 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$36,000 levels. The second major support level sits at $35,906.

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