Bob Mason
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Bitcoin, BTC to USD, rose by 2.87% on Thursday. Following a 3.44% gain on Wednesday, Bitcoin ended the day at $34,665.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $32,343.0 before making a move.

Steering clear of the first major support level at $32,061, Bitcoin rallied to a late intraday high $35,290.0.

Bitcoin broke through the first major resistance level at $35,049 before falling back to sub-$35,000 levels.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot fell by 0.26% to buck the trend on the day.

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

Cardano’s ADA rallied by 8.74% to lead the way, with Bitcoin Cash SV (+6.08) close behind.

Binance Coin (+4.16%), Chainlink (+3.41%), Crypto.com Coin (+5.37%), Litecoin (+4.11%), and Ripple’s XRP (+4.65%) also made solid gains.

Ethereum trailed the pack, however, rising by a more modest 1.04% on the day.

In the current week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,129bn. At the time of writing, the total market cap stood at $1,381bn.

Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.28%. At the time of writing, Bitcoin’s dominance stood at 47.17%.


This Morning

At the time of writing, Bitcoin was up by 0.30% to $34,768.0. A bullish start to the day saw Bitcoin rise from an early morning low $34,652.0 to a high $34,927.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Crypto.com Coin was up by 2.96% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $34,099 pivot to bring the first major resistance level at $35,856 into play.

Support from the broader market would be needed for Bitcoin to break out from Thursday’s high $35,290.0 levels.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $36,000 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 $37,046.

A fall through the $34,099 pivot would bring the first major support level at $32,909 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $31,152.

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