Bitcoin, BTC to USD, rose by 1.24% on Saturday. Partially reversing a 2.81% loss from Friday, Bitcoin ended the day at $11,673.5.
It was a bearish start to the day. Bitcoin slid to an early morning intraday low $11,369.5 before finding support.
The reversal saw Bitcoin fall through the first major support level at $11,379.67 before rising to a late intraday high $11,692.0.
Falling short of the first major resistance level at $11,783.67, Bitcoin wrapped up the day at sub-$11,700 levels.
The near-term bullish trend remained intact, supported by the latest move through to $12,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a bullish day for the majors on Saturday.
EOS (+3.48%), Tezos (+5.69%), and Tron’s TRX (+3.61%) led the way.
Bitcoin Cash ABC (+2.30%), Litecoin (+2.08%), Monero’s XMR (+2.55%), Ripple’s XRP (+2.50%), and Stellar’s Lumen (+2.65%) also found strong support.
Binance Coin (+0.59%), Bitcoin Cash SV (+0.36%), Cardano’s ADA (+1.68%), and Ethereum (+1.96%) trailed the front runners.
In the current week, the crypto total market rose to a Monday high $384.00bn before sliding to a Saturday low $338.56bn. At the time of writing, the total market cap stood at $351.70bn.
Bitcoin’s dominance fell to a Monday low 59.97% before rising to a Wednesday high 62.00%. At the time of writing, Bitcoin’s dominance stood at 61.27%.
This Morning
At the time of writing, Bitcoin was down by 0.08% to $11,664.5. A mixed start to the day saw Bitcoin rise to an early morning high $11,694.5 before falling to a low $11,660.5.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash ABC (+0.06%), Bitcoin Cash SV (+0.33%), and Cardano’s ADA (+0.07% found early support.
It was bearish for the rest of the majors, however.
At the time of writing, Tron’s TRX was down by 1.51% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $11,578 to support a run at the first major resistance level at $11,787.
Support from the broader market would be needed, however, for Bitcoin to break out Saturday’s high $11,692.0.
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 the second major resistance level at $11,901 and resistance at $12,000.
Failure to avoid a fall through the $11,578 pivot level would bring the first major support level at $11,465 into play.
Barring an extended crypto sell-off, however, Bitcoin should avoid the second major support level at $11,256.
In the event of an extended sell-off, Bitcoin could test support at $11,000 before any recovery.
