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.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!