Wednesday was a mixed day throughout the cryptomarket, with Bitcoin struggling with the 2ND week of the year alongside some of the main criptos.
For Bitcoin, a relatively mixed day ended with Bitcoin down 0.41% to sit in red for a 3rd consecutive day. A bullish start to the day saw Bitcoin rise from a low morning of $ 4,072.7 to a late morning intraday high of $ 4,168.9 before tracing the broader market to the red.
Starting with the first main resistance level at $ 4,191.87 and, above all, a return to $ 4,200 levels to give a $ 4,300 run, the reversal saw the first major support level fall to $ 4,032.07 at an early afternoon intraday high $ 4.010.00.
A partial recovery through the last part of the day saw Bitcoin avoiding a pullback of $ 4,000 levels that would have weighed heavily on the broader market, which has struggled for the direction of the current week.
The news of the Japanese FSA, considering the introduction of cryptographic ETFs, has provided little support to a market that has seen a lot of red this week, the exception to the bearish prejudice that continues to be Tron that is not only managed to overcome Bitcoin ABC SV by the market capitalization week, but also reach Tether, another day of solid gains that see Tron take point 8 and start looking at Litecoin and the Lumen of Stellar.
It was a spectacular start to the year for Tron, with double-digit earnings close to Wednesday, bringing Tron to a 50% gain in the first 9 days of the year and to an even more impressive 159% from the swing of end of November, $ 0.0111.
The countertrend movements that dwarfed the 30% rally of Litecoin at the beginning of the year are news from DApps that moves from Ethereum to the Tron platform and the launch of BitTorrent, a file sharing platform that is was detected by Tron in 2018.
With the Ethereum rally now stalled, despite the repetition of point 2 between the Ripple XRP struggles, the focus will be on the fact that Tron and Litecoin can continue to progress, supported by product differentiation, the probability to be a retreat once the inertia fades.
Enter the cryptocurrency trading today
At the time of publication, Bitcoin rose 0.72% to $ 4,112.5, a bullish start to the day when Bitcoin rose from a low morning of $ 4,083.1 to a maximum of $ 4,119.8 before slowing down, the main levels of support and resistance have not been tested at the beginning.
For the Bitcoin bulls, the $ 4,300 levels remain the short-term goal, with a $ 4,000 support that prevented a pullback of $ 4,000 levels this week, despite 3 consecutive days in red.
Maintaining levels of $ 4,100 during the morning would have supported a run at the first resistance level of more than $ 4,164.80, with the broader market support needed for a breakout at $ 4,200 levels later in the day.
The inability to maintain levels of $ 4,100 will likely see Bitcoin's withdrawal at a minimum of $ 4,083.1 to claim support for the first level of primary support at $ 4.005.90 before any recovery, $ 4,000 likely to be avoided during the day.
Elsewhere in the cryptomarket, Tron continued to impress, rising to $ 0.03 with TRX up 11.57% to $ 0.032 at the time of writing, while Tron beat Tether to No. 8, with the next goal of Litecoin Tron.
Participating in the crypt party was Ripple's XRP this morning, with a rebound of up to $ 0.40 that kicked off news of a new partnership in Australia, the Ripple team continuing on the road to success, suggesting more upside for Ripple's XRP.
