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Bitcoin, from BTC to USD, slipped 4.67% on Saturday. Reversing a 0.03% gain from Friday, Bitcoin ended the day at $ 14,845.0.
It was a mixed start to the day. Bitcoin rose to a morning intraday high of $ 15,740.0 before reversing.
On the downside of the first major resistance level at $ 15,914, Bitcoin slipped to an intraday low of $ 14,411.0.
The sell-off saw Bitcoin fall through the first major support level at $ 15,205 and the second major support level at $ 14,838.
Finding late support, Bitcoin broke through the second major support level to end the day at $ 14,840.
The short-term bullish trend remained intact, supported by the latest move up to the $ 15,000 levels. For bears, Bitcoin is expected to slide through the 62% FIB of $ 6,400 to form a short-term bearish trend.
The rest of the pack
For the rest of the majors, Saturday was a bearish day.
Cardano’s ADA (-7.31%), Crypto.com Coin (-6.45%) and Litecoin (-6.96%) led the way down.
Also Binance Coin (-4.51%), Bitcoin Cash SV (-4.31%), Chainlink (-3.56%), Ethereum (-4.56%), Polkadot (-3.03%) and XRP of Ripple (-3.71) struggled.
Bitcoin Cash ABC fell a relatively modest 1.25% on the day.
For the current week, the total cryptocurrency market cap has fallen to a low on Tuesday at $ 379.41 billion before hitting a high on Friday at $ 456.16 billion. At the time of writing, the total market capitalization was $ 421.96 billion.
Bitcoin’s dominance fell to a Monday low of 63.16% before climbing to a Friday high of 66.51%. At the time of writing, Bitcoin’s dominance was 64.80%.
This morning
At the time of writing, Bitcoin was down by 0.49% to $ 14,771.7. A bearish start to the day saw Bitcoin fall from a morning high of $ 14,849.0 to a low of $ 14,765.0.
Bitcoin left the major support and resistance levels untested in the beginning.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV (+ 0.79%) and Litecoin (+ 0.12%) found initial support to reverse the trend.
However, it was a bearish start for the rest of the majors.
At the time of writing, Chainlink was down by 1.70% to pave the way for the downside.
For Bitcoin Day Ahead
Bitcoin is expected to break out of the pivot level at $ 14,999 to bring the first major resistance level at $ 15,586 into play.
Support from the broader market would be needed for Bitcoin to return to $ 15,000 levels.
Barring an extended cryptocurrency rally, however, Bitcoin would likely be well below the $ 15,500 levels and the first major resistance level.
In the event of a cryptocurrency breakout, Bitcoin could revisit the high of $ 15,740.0 on Saturday. The second major resistance level is found at $ 16,328.
Failure to break out of the $ 14,999 pivot would bring the first major support level at $ 14,257 into play.
Barring another extended cryptocurrency sell-off, Bitcoin is expected to avoid levels below $ 14,000. The second major support level is found at $ 13,670.
This article was originally published on FX Empire
