Bitcoin, BTC to USD, collected 7.08% on Friday. Going back to a 1.86% loss from Thursday, Bitcoin ended the day at $ 54,993.0.
With a mixed start on the day Bitcoin fell to an early morning low of $ 51,300.0 before making a move.
Clearly leading the first major support level at $ 50,100, Bitcoin raised to an intraday high of $ 55,000.0.
Bitcoin broke through the first major protection level at $ 52,866 and the second major protection level at $ 54,374.0.
Despite a late pullback, Bitcoin avoided falling through the second major defensive level, circling the day at $ 54,900 levels.
The near-term bullish move remained intact despite the recent pullback. For the bears, Bitcoin had to slide through the 62% FIB of $ 26,041 to create a near-term bearish move.
The rest of the pack
For the rest of the majors, Friday was a bullish day.
ADA Cardano and XRP at Ripple collected 10.78% and 10.37% to lead the way.
Binance Coin (+ 9.07%) Chainlink (+ 7.20%), Ethereum (+ 7.13%), and Litecoin (+ 7.10%) also received strong support.
Bitcoin Cash SV (+ 3.47%), Crypto.com Coin (+ 3.91%), and Polkadot (+ 3.64%) attracted the top runners, however.
In the current week, the total crypto market rose to a high of $ 1,802bn on Monday before slipping to a low of $ 1,517bn on Thursday. At the time of writing, the total market cap stood at $ 1,700bn.
Bitcoin’s dominance rose to a 6 Wednesday high of 62.24% before falling to a 60.17% low on Friday. At the time of writing, Bitcoin’s dominance stood at 60.87%.
This morning
At the time of writing, Bitcoin went up 0.65% to $ 55,348.0. With a mixed start on the day Bitcoin fell early in the early morning low of $ 54,965.0 before hitting a high of $ 55,500.0.
Bitcoin left the main levels of support and struggle unproven early.
Elsewhere, it was a bullish start.
At the time of writing, Crypto.com Coin has risen 2.63% to lead the way.
For the day Bitcoin onwards
Bitcoin had to avoid falling through the pivot level at $ 53,764 to introduce the first major protection level at $ 56,229.
Broad market support would be needed for Bitcoin to break from the $ 55,500.0 high this morning.
Preventing an extended crypto rally, the first major level of protection is likely to go upside down.
If an extended crypto rally occurs, Bitcoin could test a struggle at $ 60,000 before withdrawal. The second major protection level is at $ 57,464.
If you don’t avoid falling through the $ 53,764 pivot that would bring the first major support level at $ 52,529 into play.
Preventing further extended sales on the day, Bitcoin should stay away from sub- $ 50,000 levels. The second major support level at $ 50,064 should end the downtrend.
This article was originally posted on FX Empire