Bitcoin, BTC to USD, slipped by 0.12% on Thursday. Following a 0.07% decline on Wednesday, Bitcoin ended the day at $58.724.0.
A mixed start to the day saw Bitcoin rise to a late morning intraday high $59,483.0 before hitting reverse.
Falling short of the first major resistance level at $60,188, Bitcoin slid to a late morning low $58,029.0.
Steering clear of the major support levels, Bitcoin revisited $59,300 levels before falling to a mid-afternoon intraday low $57,955.0.
Continuing to avoid the first major support level at $57,115, Bitcoin found late support to revisit $59,000 levels before falling back into the red.
The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a mixed start to the month on Thursday.
It was a bullish day for the rest of the pack, however.
Binance Coin rallied by 10.58% to lead the way.
Crypto.com Coin (+0.67%) and Polkadot (+1.00%) trailed the front runners on the day.
In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Thursday high $1,880bn. At the time of writing, the total market cap stood at $1,836bn.
Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Thursday low 59.09%. At the time of writing, Bitcoin’s dominance stood at 59.69%.
At the time of writing, Bitcoin was down by 0.04% to $58,703.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,891.0 before falling to a low $58,572.1.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day for the majors.
Binance Coin (+2.43%), Cardano’s ADA (+0.20%), Polkadot (+0.31%), and Ripple’s XRP (+0.95%) found early support.
It was a bearish start for the rest of the pack, however.
At the time of writing, Crypto.com Coin was down by 1.04% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the pivot level at $58,721 to bring the first major resistance level at $59,486 into play.
Support from the broader market would be needed for Bitcoin to break back through to $59,400 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $60,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $60,249.
Failure to move back through the $58,721 pivot would bring the first major support level at $57,958 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,193 should limit the downside.