Bitcoin, BTC to USD, fell by 0.34% on Saturday. Following a 4.54% slide on Friday, Bitcoin ended the day at $42,714.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $42,986.9 before hitting reverse.
Falling short of the first major resistance level at $45,095, Bitcoin slid to a late morning intraday low $41,728.0.
Steering clear of the 38.2% FIB of $41,592 and the first major support level at $40,686, Bitcoin revisited $42,900 levels before easing back into the red.
The near-term bullish trend remained intact, in spite of the latest return to sub-$40,000 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.
It was a bearish day for the rest of the majors, however.
Polkadot fell by 2.84% to lead the way down.
In the current week, the crypto total market rose to a Monday high $2,136bn before sliding to a Tuesday low $1,744bn. At the time of writing, the total market cap stood at $1,910bn.
Bitcoin’s dominance rose to a Monday high 42.97% before falling to a Friday low 40.99%. At the time of writing, Bitcoin’s dominance stood at 41.91%.
At the time of writing, Bitcoin was down by 0.36% to $42,559.0. A mixed start to the day saw Bitcoin rise to an early morning high $42,767.0 before falling to a low $42,451.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Bitcoin Cash SV was down by 2.47% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the $42,476 pivot to bring the first major resistance level at $43,225 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $42,986.8.
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 $45,000 levels before any pullback. The second major resistance level sits at $43,735.
A fall back through the $42,476 pivot would bring the first major support level at $41,966 and the 38.2% FIB of $41,592 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$40,000. The second major support level at $41,218 should limit the downside.