Bitcoin, BTC to USD, rose by 2.14% on Saturday. Reversing a 1.02% loss from Friday, Bitcoin ended the day at $48,308.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $47,066.0 before making a move.
Steering clear of the first major support level at $46,650, Bitcoin rallied to a mid-morning intraday high $48,819.0.
Bitcoin broke through the first major resistance level at $48,062.
Coming up against the second major resistance level at $48,829, however, Bitcoin fell back to sub-$48,000 before finding late support.
Late in the day, Bitcoin broke back through the first major resistance level to wrap up the day at $48,300 levels.
The near-term bullish trend remained intact, in spite of the latest return to $43,000 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 fell by 0.03% to buck the trend.
It was a bullish day for the rest of the majors, however.
Polkadot rallied by 3.41% to lead the way, with Chainlink (+2.58%) also finding strong support.
In the current the week, the crypto total market fell to a Monday low $1,957bn before rising to a Thursday high $2,245bn. At the time of writing, the total market cap stood at $2,176bn.
Bitcoin’s dominance fell to a Monday low 40.36% before rising to a Friday high 42.30%. At the time of writing, Bitcoin’s dominance stood at 41.77%.
At the time of writing, Bitcoin was up by 0.01% to $48,314.0. A mixed start to the day saw Bitcoin fall to an early morning low $48,251.0 before rising to a high $48,370.3.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV (+0.57%) joined Bitcoin in the green to buck the broader trend.
It was a bearish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was down by 1.12% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $48,064 pivot to bring the first major resistance level at $49,063 into play.
Support from the broader market would be needed for Bitcoin to break back through to $49,000 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 23.6% FIB of $50,473 before any pullback. The second major resistance level sits at $49,817.
A fall through the $47,064 pivot would bring the first major support level at $47,310 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,000 levels. The second major support level at $46,311 should limit the downside.