Bitcoin , BTC to USD, rose by 3.01% on Thursday.Following a 6.94% rally on Wednesday, Bitcoin ended the day at $44,884.7.
A bearish start to the day saw Bitcoin fall to an early morning intraday low $43,102.0 before making a move.
Steering clear of the 38.2% FIB of $41,592 and the first major support level at $41,450, Bitcoin rallied to a late intraday high $45,000.0.
Bitcoin broke through the first major resistance level at $44,849 to end the day at $44,880 levels.
The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 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 on Thursday.
Bitcoin Cash SV (-0.93%) and Ripple’s XRP (-0.24%) bucked the trend on the day.
It was a bullish day for the rest of the majors.
Chainlink rose by 4.12% to lead the way, with Cardano’s ADA (+3.07%), Ethereum (+2.48%), and Polkadot (+2.65%) close behind.
Binance Coin (+1.25%), Crypto.com Coin (+0.55%), and Litecoin (+1.53%) trailed the front runners, however.
In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn.At the time of writing, the total market cap stood at $2,043bn.
Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Thursday low 41.07%.At the time of writing, Bitcoin’s dominance stood at 41.46%.
This Morning At the time of writing, Bitcoin was up by 0.21% to $44,978.9.A mixed start to the day saw Bitcoin fall to an early morning low $44,738.0 before rising to a high $44,993.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin led the way, rising by 2.39%, with Litecoin up by 1.10%.
Binance Coin (+0.37%), Bitcoin Cash SV (+0.12%), and Cardano’s ADA (+0.51%) also found early support.
It was a bearish start for the rest of the majors, however.
Story continues At the time of writing, Polkadot was down by 0.47% to lead the way down.
For the Bitcoin Day Ahead Bitcoin would need to avoid the $44,329 pivot to bring the first major resistance level at $45,555 into play.
Support from the broader market would be needed for Bitcoin to break back through to $45,500 levels.
Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $48,000 levels before any pullback.The second major resistance level sits at $46,227.
A fall through the $44,329 pivot would bring the first major support level at $43,658 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$43,000 levels.
The second major support level sits at $42,431.
This article was originally posted on FX Empire
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