Steering clear of the 23.6% FIB of $8,900 and the first major support level at $8,846.03, Bitcoin rallied to a late afternoon intraday high $9,193.2.
Coming up against the first major resistance level at $9,193.53, Bitcoin fell back to sub-$9,100 levels.
Finding late support, however, Bitcoin recovered to $9,100 levels ahead of the day end.
The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was also a bullish day on Saturday.
Bitcoin Cash SV (+2.92%), Stellar’s Lumen (+2.39%), and Tezos (+2.16%) also found strong support.
Litecoin saw a modest gain of 0.71% on the day.
For the week, it was mixed, with Cardano’s ADA rising by 2.36% to buck the trend.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="It was bearish for the rest of the majors in the week ending 28th June.” data-reactid=”26″>It was bearish for the rest of the majors in the week ending 28th June.
Ethereum and Tron’s TRX saw relatively modest losses of 1.29% and 0.78% respectively.
Through the week, the crypto total market cap rose to a Monday high $274.23bn before falling to a Saturday low $243.89bn. At the time of writing, the total market cap stood at $253.96bn.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
It was a bullish start to the day for the rest of the majors.
Cardano’s ADA led the way with a 1.66% gain.
For the Bitcoin Day Ahead
Bitcoin would avoid a fall through the $9,090 pivot to support a run at the first major resistance level at $9,230.2.
Support from the broader market would be needed, however, for Bitcoin to break out from Sunday’s high $9,193.2.
Barring an extended crypto rebound, the first major resistance level and Sunday’s high would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,335.0.
Failure to avoid a fall through the $9,090 pivot level could see Bitcoin struggle later in the day.
A fall back through to sub-$9,000 would bring the first major support level at $8,983.6 into play.
In the event of another extended crypto sell-off, the 23.6% FIB of $8,900 and the second major support level at $8,841.8 may be tested.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was originally posted on FX Empire” data-reactid=”54″>This article was originally posted on FX Empire
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