Bitcoin rose by 1.57% on Wednesday. Partially reversing a 6.84% slide from Tuesday, Bitcoin ended the day at $9,676.6.
A mixed start to the day saw Bitcoin slide to an early morning intraday low $9,400 before finding support.
Steering clear of the first major support level at $9,034.0, Bitcoin rallied to a midday intraday high $9,640.8.
Falling well short of the first major resistance level at $10,136.0, Bitcoin fell back to $9,500 levels and into the red.
Finding late support, however, Bitcoin broke back through to $9,600 levels to end the day in the green.
The near-term bullish trend remained intact, in spite of Tuesday’s pullback.
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 a mixed day for the majors on Wednesday.
Bitcoin Cash SV bucked the trend, falling by 0.68%.
It was a bullish day for the rest of the pack, however…
Cardano’s ADA surged by 8.66% to lead the way on the day.
Stellar’s Lumen and Tezos rallied by 4.69% and 5.11% also found strong support.
Ethereum (+2.90%), Litecoin (+2.37%), and Tron’s TRX (+3.21) weren’t far behind.
Binance Coin (+1.85%), Bitcoin Cash ABC (+0.33%), EOS (+0.67%), Monero’s XMR (+0.36%), and Ripple’s XRP (+0.59%) saw modest gains.
Through the current week, the crypto total market cap rose to a Monday high $285.71bn before sliding to a Tuesday low $255.98bn. At the time of writing, the total market cap stood at $269.91bn.
Through the current week, Bitcoin’s rose to a Monday high 67.13% before falling to a Tuesday low 65.64%. At the time of writing, Bitcoin’s dominance stood at 65.69%.
At the time of writing, Bitcoin was down by 0.32% to $9,645.5. A mixed start to the day saw Bitcoin rise to an early morning high $9,683.9 before falling to a low $9,608.9.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.22%), Bitcoin Cash SV (-0.22%), and Tezos (-0.37%) joined Bitcoin in the red.
It was a bullish start to the day for the rest of the majors, however.
Cardano’s ADA led the way, rallying by 4.54%, with Stellar’s Lumen up by 2.48% at the time of writing.
For the Bitcoin Day Ahead
Bitcoin would need to avoid sub-$9,570 levels to bring the first major resistance level at $9,744.93 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from this morning’s high $9,683.9.
Barring another broad-based crypto rally, the first major resistance level would likely limit any upside.
In the event of an extended crypto rally, Bitcoin could eye the third major resistance level at $10,054.07 before any pullback.
Failure to avoid sub-$9,570 levels could see Bitcoin struggle later in the day.
A fall back through the morning low to sub-$9,570 levels would bring the first major support level at $9,504.13 into play.
Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,331.67.