Bitcoin, BTC to USD, fell by 0.23% on Sunday. Following a 0.34% decline from Saturday, Bitcoin ended the week down by 0.95% to $48,800.0.
A choppy start to the day saw Bitcoin rally to an early morning intraday high $49,650.0 before hitting reverse.
Bitcoin broke through the first major resistance level at $49,354 before sliding to an early morning intraday low $47,760.0.
The sell-off saw Bitcoin fall through the first major support level at $48,430 and the second major support level at $47,946.
Steering clear of sub-$47,500 levels, however, Bitcoin found late support to revisit $49,400 levels before falling back into the red.
The first major resistance level at $49,354 pegged Bitcoin back in the final hour.
The near-term bullish trend remained intact, supported by the latest return to $50,000 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.
Binance Coin fell by 1.30% to lead the way down.
It was a bullish day for the rest of the majors, however.
It was also a mixed week for the majors in the week ending 29th August.
Chainlink slid by 8.03% to lead the way down. Ethereum (-0.46%), Litecoin (-6.18%), Polkadot (-6.22%), and Ripple’s XRP (-7.01%) also ended the week in the red.
It was a bullish week for the rest of the majors, however.
Binance Coin rallied by 6.92% to lead the way, with Cardano’s ADA (+5.32%) close behind.
Bitcoin Cash SV (+1.37%) and Crypto.com Coin (+1.97%), and trailed the front runners, however
In the week, the crypto total market rose to a Monday high $2,169bn before falling to a Thursday low $1,933bn. At the time of writing, the total market cap stood at $2,087bn.
Bitcoin’s dominance rose to a Thursday high 44.98% before falling to a Saturday low 43.53%. At the time of writing, Bitcoin’s dominance stood at 44.03%.
At the time of writing, Bitcoin was up by 0.24% to $48,915.7. A mixed start to the day saw Bitcoin fall to an early morning low $48,565.0 before rising to a high $48.915.7.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Polkadot bucked the early trend, falling by a modest 0.06%.
It was a bullish start for the rest of the majors, however.
At the time of writing, Bitcoin Cash SV was up by 1.46% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the $48,737 pivot to bring the first major resistance level at $49,713 into play.
Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $49,650.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at $50,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at the 23.6% FIB of $50,483 before any pullback. The second major resistance level sits at $50,627.
A fall back through the $48,737 pivot would bring the first major support level at $47,823 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$47,000 levels. The second major support level sits at $46,847.