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Bob Mason
Bitcoin

Bitcoin, BTC to USD, rose by 2.54% on Sunday. Following on from a 3.35% gain on Saturday, Bitcoin ended the week down by 1.05% to $18,196.

A mixed start to the day saw Bitcoin fall to an early morning low $17,556.0 before making a move.

Steering clear of the first major support level at $17,144, Bitcoin rallied to a late intraday high $18.344.0.

Bitcoin broke through the first major resistance level at $18,129. A late pullback, however, saw Bitcoin fall back through the first major resistance level before wrapping up the day at $18,190 levels.

The near-term bullish trend remained intact, in spite of the latest slide back to sub-$17,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,920 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.

Ripple’s XRP fell by 3.36% to buck the trend on the day.

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

Litecoin rallied by 8.58% to lead the way.

Binance Coin (+3.14%), Ethereum (+7.21%), and Polkadot (+3.53%) also found strong support.

Bitcoin Cash SV (+0.30%), Cardano’s ADA (+0.89%), Chainlink (+2.22%), and Crypto.com Coin (+1.54%) saw relatively modest gains on the day.

It was also a mixed bag for the week.

Bitcoin Cash SV (-5.83%), Chainlink (-7.77%), Crypto.com Coin (-6.11%), Litecoin (-4.76%), and Polkadot (-4.63%) joined Bitcoin in the red.

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

Ripple’s XRP surged by 35.79% to lead the way, with Cardano’s ADA rallying by 14.13%.

Binance Coin (+0.18%), Ethereum (+2.85%) trailed the front runners, however.

At the start of the week, the crypto total market cap rose from a Monday low $538.06bn to a Monday high $547.50bn. At the time of writing, the total market cap stood at $547.21bn.

Bitcoin’s dominance fell from a Monday high 62.80% to a low of 62.41%. At the time of writing, Bitcoin’s dominance stood at 62.64%.

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This Morning

At the time of writing, Bitcoin was up by 1.39% to $18,449.0. A bullish start to the day saw Bitcoin rise from an early morning low $18,196.0 to a high $18,481.0

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

Elsewhere, it was a mixed start to the day. Polkadot was down by 1.09% to buck the trend early on.

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

At the time of writing, Ripple’s XRP was up by 4.37% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $18,032 to bring the first major resistance level at $18,508 into play.

Support from the broader market would be needed for Bitcoin to break through to $18,500 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $19,000 before any pullback. The second major resistance level sits at $18,820.

Failure to avoid a fall through the $18,032 pivot would bring the first major support level at $17,720 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$17,500 levels. The second major support level sits at $17,244.

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