Bitcoin, BTC to USD, rallied by 7.41% on Sunday. Following a 2.44% gain on Saturday, Bitcoin ended the week down by 2.49% to $34,744.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $32,066.0 before making a move.
Steering clear of the first major support level at $30,821, Bitcoin rose to a final hour intraday high $34,794.0.
Bitcoin broke through the first major resistance level at $33,276 and the second major resistance level at $34,196 to end the day at $34,700 levels.
The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 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.
Polkadot bucked the trend on the day, falling by 3.74%,
It was a bullish day for the rest of the majors, however.
Binance Coin rose by a more modest 3.99%, however.
It was also a bearish week for the crypto markets.
Polkadot tumbled by 25.34% to lead the way down, with Ripple’s XRP sliding by 16.30%.
Binance Coin (-14.19%), Bitcoin Cash SV (-14.94%), Chainlink (-15.03%), Ethereum (-11.51%), and Litecoin (-14.33%) also saw heavy losses.
Cardano’s ADA (-6.18%) and Crypto.com Coin (-1.92%) saw relatively modest losses in the week, however.
In the week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,127bn. At the time of writing, the total market cap stood at $1,367bn.
Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.26%. At the time of writing, Bitcoin’s dominance stood at 47.76%.
At the time of writing, Bitcoin was up by 0.17% to $34,804.0. A mixed start to the day saw Bitcoin rise to an early morning high $34,881.0 before falling to a low $34,479.4.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Cardano’s ADA (-0.04%), Chainlink (-0.33%), and Litecoin (-0.55%) saw modest losses early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 3.03% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $33,868 pivot to bring the first major resistance level at $35,670 into play.
Support from the broader market would be needed for Bitcoin to break back through to $35,000 levels.
Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $38,000. The second major resistance level sits at $36,596.
A fall through the $33,868 pivot would bring the first major support level at $32,942 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $31,140.