Bitcoin, BTC to USD, rose by 0.42% on Saturday. Partially reversing a 1.46% fall from Friday, Bitcoin ended the day at $31,560.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $31,210.0 before making a move.
Steering clear of the first major support level at $30,891, however, Bitcoin rallied to a late morning intraday high $32,000.0.
Falling short of the first major resistance level at $32,118, Bitcoin fell back to $31,300 levels and into the red.
Finding support through the 2nd half of the day, however, Bitcoin revisited $31,900 levels before easing back.
The near-term bullish trend remained intact, in spite of the latest return to $31,000 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 Saturday.
Crypto.com Coin and Polkadot rose by 1.89% and by 1.73% respectively to lead the way.
It was a bearish day for the rest of the majors, however.
Bitcoin Cash SV slid by 4.28% to lead the way down.
In the current week, the crypto total market rose to a Monday high $1,419bn before falling to a Friday low $1,248bn. At the time of writing, the total market cap stood at $1,282bn.
Bitcoin’s dominance fell to a Thursday low 45.47% before rising to a Saturday high 46.86%. At the time of writing, Bitcoin’s dominance stood at 46.27%.
At the time of writing, Bitcoin was up by 0.26% to $31,641.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,514.0 before rising to a high $31,649.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin was down by 0.97% to buck the trend at the start of the day.
It was a bullish start for the rest of the majors, however.
At the time of writing, Chainlink was up by 0.87% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the $31,590 pivot to bring the first major resistance level at $31,970 into play.
Support from the broader market would be needed for Bitcoin to break back through to $31,900 levels.
Barring a broad-based crypto rally, the first major resistance level and Saturday’s high $32,000.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $33,000 before any pullback. The second major resistance level sits at $32,380.
A fall back through the $31,590 pivot would bring the first major support level at $31,180 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $30,800 should limit the downside.