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Bob Mason
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Bitcoin, BTC to USD, slid by 8.86% on Friday. Reversing a 2.87% gain from Thursday, Bitcoin ended the day at $31,584.7.

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A mixed start to the day saw Bitcoin rise to an early morning intraday high $35,495.0 before hitting reverse.

Falling short of the first major resistance level at $35,856, Bitcoin slid to a late intraday low $31,264.0.

The sell-off saw Bitcoin fall through the first major support level at $32,909 to end the day at $31,500 levels.

In spite of the extended sell-off, Bitcoin avoided the second major support level at $31,152.

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 Friday.

Bitcoin Cash SV (+1.72%) and Crypto.com Coin (+0.41%) bucked the trend on the day.

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

Chainlink led the way down, sliding by 11.10%.

Binance Coin (-8.94%), Cardano’s ADA (-7.89%), Ethereum (-9.04%), Litecoin (-7.09%), and Ripple’s XRP (-9.39%) also saw heavy losses.

Polkadot fell by a more modest 2.43% 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 $1,278bn.

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 46.86%.

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This Morning

At the time of writing, Bitcoin was up by 0.87% to $31,859.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,300.0 before rising to a high $32,180.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin bucked the trend early on, sliding by 3.05%.

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

At the time of writing, was Litecoin was up by 2.17% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $32,781 pivot to bring the first major resistance level at $34,299 into play.

Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.

Barring a broad-based crypto rebound, the first major resistance level and resistance at $35,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $37,012.

Failure to move through the $32,781 pivot would bring the first major support level at $30,068 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $28,550.

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