It’s a mixed start to the day for the majors. The Bitcoin bulls will be eyeing $36,000 levels to then bring $40,000 into view.
Bitcoin, BTC to USD, surged by 9.65% on Saturday. Following on from a 1.42% gain on Friday, Bitcoin ended the day at $32,183.0.
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It was a mixed start to the day. Bitcoin fell to an early morning intraday low $29,000.0 before making a move.
Steering clear of the first major support level at $28,837, Bitcoin rallied to an early evening intraday high $33,292.0.
The day-long rally saw Bitcoin break through the day’s major resistance levels to hit a new swing hi and all-time high before easing back.
In spite of a pullback to $32,100 levels, Bitcoin avoided a fall back through the third major resistance level at $31,036.
The near-term bullish trend remained intact, supported by the latest breakthrough to $33,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $15,190 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was another mixed day on Saturday.
Ripple’s XRP slid by 7.16% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
In the current week, the crypto total market cap fell to a Tuesday low $678.76bn before surging to a Saturday high $866.00bn. At the time of writing, the total market cap stood at $830.22bn.
Bitcoin’s dominance fell to a Monday low 69.13% before rising to a Saturday high 72.92%. At the time of writing, Bitcoin’s dominance stood at 72.62.Advertisement
At the time of writing, Bitcoin was up by 0.82% to $32,447.9. A mixed start to the day saw Bitcoin fall to an early morning low $31,975.0 before rising to a high $32,501.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Chainlink (+0.28%), Ethereum (+0.50%), and Litecoin (+0.54%) joined Bitcoin in the green, with Bitcoin Cash SV flat.
It was a bearish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was down by 7.52% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $31,492 to bring the first major resistance level at $33,983 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $33,292.0.
Barring an extended crypto rally, the first major resistance level and resistance at $34,000 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $35,784.
Failure to avoid a fall through the $31,492 pivot would bring the first major support level at $29,691 into play.
Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$29,000 levels. The second major support level sits at $27,200.