The Crypto market traded in the red. What about Bitcoin?
The major cryptos declined on Thursday, trading in the red. Binance Coin decreased by 1.59%, losing the most. However, Tezos recovered some losses from Wednesday, surging forward by 1.49%.
On Wednesday, the crypto market fluctuated. Binance Coin and Monero’s XMR soared by 4.48% and 3.59%, respectively. Ethereum also jumped by 2.94%, while Bitcoin Cash ABC rallied by 2.71%, and Bitcoin Cash SV surged forward by 2.89%.
Meanwhile, Litecoin gained 2.29%, and EOS added 0.71%. Ripple’s XRP edged up by 0.38% as well.
Several other cryptos traded on the bearish territory, though. Tezos collapsed by 4.04%, and Tron’s TRX tumbled down by 0.68%. Furthermore, Stellar’s Lumen plummeted down by 2.66%, while Cardano’s ADA lost 0.99%.
How did Bitcoin fare?
Bitcoin lowered by 0.82% to $11,639.5 on Thursday. The crypto rallied to an early morning high $11,799.0 before dropping to a low $11,605.0. It also left the major support and resistance levels untested.
On Wednesday, Bitcoin skyrocketed by 4.91%, ending the day at $11,735.8. The crypto slid to an early morning intraday low $11,085 before making a move.
Bitcoin soared to a late intraday high $11,800 after steering clear of the first major support level at $10,993. It also managed to break through the first and second major resistance levels at $11,386 and $11,587, respectively.
Despite that, Bitcoin plummeted through the second resistance level for a short time before ending the day at $11,700 levels.
Thus far, the near-term bullish trend remained intact, as the latest move through to $11,000 levels supported it. Bitcoin would need to drop through the 62% FIB of $6,400 to form a near-term bearish trend.
On Thursday, Bitcoin’s dominance stood at 62.38%. Bitcoin’s dominance plunged from a Monday high 62.46% to a Tuesday low 61.24%.
During the week, the crypto total market cap rallied from a Monday low $323.88bn to a Wednesday high $352.79bn. On Thursday, the total market cap stood at $344.35bn.
