Bitcoin, BTC to USD, rose 0.07% gain on Saturday. Following a 0.91% gain on Friday, Bitcoin ended the day at $ 48,860.0.
With a mixed start to the day, Bitcoin rose to an early morning intraday high of $ 49,238.0 before hitting back.
Falling short from the first key protection level at $ 50,074, Bitcoin fell into an early intraday afternoon of $ 47,159.0.
Steer clear of the first major support level at $ 47,002, Bitcoin went back to $ 49,000 levels before rebounding.
The near-term bullish move remained intact despite the latest pullback. For the bears, Bitcoin had to slide through the 62% FIB of $ 24,751 to create a near-term bearish move.
The rest of the pack
For the rest of the majors, Saturday was a mixed day.
Ethereum collected 8.05% to lead the way.
Binance Coin (+ 0.48%), Chainlink (+ 1.10%), Litecoin (+ 1.38%), and Ripple’s XRP (+ 1.79%) also came alongside Bitcoin in the green.
It was a bearish day for the rest of the majors, however.
Bitcoin Cash saw SV (-1.69%), ADA Cardano (-2.53%), Crypto.com Coin (-0.18%), and Polkadot (-0.81%) red on the day.
In the current week, the total crypto market fell to a low of $ 1,347bn before rising to a high of Wednesday $ 1,600bn. At the time of writing, the total market cap stood at $ 1,505bn.
Bitcoin’s dominance rose to a Tuesday high of 62.40% before falling to a Friday low of 60.44%. At the time of writing, Bitcoin’s dominance stood at 60.93%.
This morning
At the time of writing, Bitcoin has risen 0.72% to $ 49,213.0. With a bullish start to the day Bitcoin saw it rise from an early morning low of $ 48,895.0 to a high of $ 49,275.0.
Bitcoin left the main levels of support and struggle unproven early.
Elsewhere, it was a mixed start to the day.
ADA Cardano went down 0.47% to strengthen the trend early.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin has gone up 4.22% to lead the way.
For the day Bitcoin onwards
Bitcoin had to avoid falling through the pivot level at $ 48,419 to introduce the first major protection level at $ 49,679.
Broad market support would be needed for Bitcoin to break back to $ 49,500 levels.
Preventing an extended crypto rally, the first major level of protection and resistance at $ 50,000 is likely to turn upside down.
If an extended crypto rally occurs, Bitcoin could test a struggle at $ 51,000 before withdrawal. The second major protection level is $ 50,498.
If you don’t avoid falling through the $ 48,419 pivot that would bring the first major support level at $ 47,600 to play.
Prohibiting extended day trading, Bitcoin should be a clear direction from the 23.6% FIB of $ 45.50. The second major support level at $ 46,340 should prevent the downtrend.
This article was originally posted on FX Empire