FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
Silver and golden coins with bitcoin, ripple and ethereum symbol

Bitcoin, BTC to USD, fell by 0.53% on Sunday. Following on from a 6.17% slide on Saturday, Bitcoin ended the week down by 20.04% to $46,597.0.

Advertisement
Know where Bitcoin is headed? Take advantage now with 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

A mixed start to the day saw Bitcoin fall to an early morning low $46,500 before making a move.

Steering clear of the major support levels, Bitcoin struck a late morning intraday high $49,870.0 before hitting reverse.

The early rally saw Bitcoin break through the first major resistance level at $49,506 before sliding to a late intraday low $44,021.0.

Bitcoin fell through the first major support level at $45.413 before ending the day at $46,500 levels.

The near-term bullish trend remained intact in spite of the latest slide back to sub-$45,000 levels. For the bears, Bitcoin would need to slide 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 on Sunday.

Bitcoin Cash SV rallied by 9.72% to lead the way, with Binance Coin (+0.13%) and Cardano’s ADA (+5.87%) also bucking the trend.

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

Ripple’s XRP fell by 2.69% to lead the way down.

Chainlink (-1.87%), Crypto.com Coin (-1.37%), Ethereum (-1.71%), and Litecoin (-1.33%), and Polkadot (-2.04%) also saw red.

It was also a mixed week for the majors in the week ending 16th May.

Cardano’s ADA and Polkadot rallied by 30.20% and by 32.02% respectively to buck the trend in the week.

It was a bearish week for the rest of the pack, however.

Chainlink and Litecoin tumbled by 22.17% and by 23.74% respectively to lead the way down, with, with Binance Coin sliding by 14.86%.

Bitcoin Cash SV (-4.56%), Crypto.Com Coin (-9.40%), Ethereum (-8.73%), and Ripple’s XRP (-5.63%) also struggled.

In the week, the crypto total market rose to a Tuesday high $3,069bn before sliding to an early Thursday low $1,967bn. At the time of writing, the total market cap stood at $2,101bn.

Bitcoin’s dominance rose to a Monday high 46.84% before falling to a Tuesday low 34.72%. At the time of writing, Bitcoin’s dominance stood at 41.03%.

Advertisement

This Morning

At the time of writing, Bitcoin was down by 0.67% to $46,287.0. A mixed start to the day saw Bitcoin rise to an early morning high $46,796.0 before falling to a low $46,144.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 2.85% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $46,829 to support a run at the first major resistance level at $49,638.

Support from the broader market would be needed for Bitcoin to break back through to $49,000 levels.

Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $50,473 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $52,678.

Failure to move through the pivot at $46,829 would bring the first major support level at $43,789 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $40,980. The 38.2% FIB of $41,592 should limit the downside.

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