Bitcoin , BTC to USD, rose by 1.11% on Sunday.Reversing a 0.34% decline from Saturday, Bitcoin ended the week down by 8.57% to $43,190.0.
A bearish start to the day saw Bitcoin slide to a late morning intraday low $40,800.0 before making a move.
Bitcoin fell through the first major support level at $41,966 and the second major support level at $41,218.
The sell-off also saw Bitcoin fall through the 38.2% FIB of $41,592.
Steering clear of sub-$40,000 support levels, however, Bitcoin rallied to a late intraday high $43,963.0.
Bitcoin broke through the first major resistance level at $43,225 and the second major resistance level at $43,735.
Falling short of $44,000 levels, however, Bitcoin fell back through the major resistance levels before ending the day at sub-$43,200 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 Sunday.
Ethereum rallied by 4.68%, with Chainlink (+0.27%), Crypto.com Coin (+0.85%), and Ripple’s XRP (+0.52%) also finding support.
It was a bearish day for the rest of the majors, however.
Cardano’s ADA and Polkadot slid by 4.07% and by 4.41% respectively to lead the way down, with Bitcoin Cash SV (-3.91%) also struggling.
Binance Coin (-1.59%) and Litecoin (-0.18%) saw relatively modest losses on the day.
While it was a mixed end to the week, it was a bearish week for the majors.
Bitcoin Cash SV slid by 16.26%, with Binance Coin (-15.71%), Crypto.com Coin (-14.94%), and Litecoin (-14.24%) close behind.
Chainlink (-10.14%), Ethereum (-8.05%), and Ripple’s XRP (-9.89%) also struggled.
Cardano’s ADA (-3.24%) and Polkadot (-6.74%) saw relatively modest losses, however.
In the 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 $1,936bn.
Story continues Bitcoin’s dominance rose to a Monday high 42.73% before falling to a Friday low 40.98%.
At the time of writing, Bitcoin’s dominance stood at 41.89%.
This Morning At the time of writing, Bitcoin was down by 0.34% to $43,045.0.
A mixed start to the day saw Bitcoin rise to an early morning high $43,233.9 before falling to a low $43,045.0.
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 1.60% to lead the way down.
For the Bitcoin Day Ahead Bitcoin would need to avoid the $42,651 pivot to bring the first major resistance level at $44,502 into play.
Support from the broader market would be needed for Bitcoin to break back through to $44,000 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 $47,000 levels before any pullback.The second major resistance level sits at $45,814.
A fall through the $42,651 pivot would bring the 38.2% FIB of $41,592 and the first major support level at $41,339 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000.The second major support level sits at $39,488.
This article was originally posted on FX Empire
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