- Early Friday morning was a mixed start for the majors and a Bitcoin breakthrough to $10,450 levels would support a broad-based crypto rally. Following on from a previous 1.11% gain on Thursday, BTC to USD rose by 0.49%, it ended the day at $10,405.0.
- It was a mixed start for the day as Bitcoin rose to an early $10,397 morning high before sliding to an early morning intraday low of $10,197.
$10,220 was the first major support level for the coin before it rallied to a late intraday high of $10,438.
- The first major resistance level was at $10,503 after which Bitcoin eased back to limit the upside on the day.
Despite the latest pullback to sub -$10,000, the near-term bullish trend has remained intact.
Bitcoin would have to slide through the 62% FIB of $6,4000 to form a near-term bearish trend.
BTC’s dominance stood at 59.79% after rising to a Monday high of 61.28% and then falling to a Friday low of 59.51%.
At the time of writing, Bitcoin was down by 0.44% to $10,359.4
A mixed start to the day had seen the coin rise to an early morning high of $10,415 before falling to a low $10,351.
The coin left major resistance and support levels untested early on.
For the Next Bitcoin Day
To be able to support a run at the first major resistance level at $10,496, Bitcoin would need to avoid a fall through the $10,347 pivot level.
However, for Bitcoin to break out from $10,450 levels it would need support from the broader market.
Barring an extended crypto rally, the first major resistance level and resistance at $10,500 would likely cap any upside.
Bitcoin might bring test the second major resistance level at $10,588 in case a crypto breakout happens.
Not avoiding a fall through the $10,347 pivot would bring into play the first major support level at $10,255.
Bitcoin needs to steer clear of sub -$10,000 to avoid an extended crypto sell-off. The second major level at $10,106 should limit any downside.