Bitcoin, BTC to USD, rose by 1.15% on Wednesday. Partially reversing a 3.60% slide from Tuesday, Bitcoin ended the day at $11,471.1.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $11,219.9 before making a move.
Steering clear of the first major support level at $11,059.6, Bitcoin rose to a late afternoon intraday high $11,546.0.
Falling short of the first major resistance level at $11,700.6, Bitcoin fell back to end the day at sub-$11,500 levels.
The near-term bullish trend remained intact, supported by the latest move through to $12,000 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 a mixed day for the majors on Wednesday.
Binance Coin and Tron’s TRX rallied by 3.83% and by 3.24% to lead the way on the day.
Bitcoin Cash ABC (+0.17%), Cardano’s ADA (+1.75%), Ethereum (+0.74%), Monero’s XMR (+0.42%), Ripple’s XRP (+0.05%), and Stellar’s Lumen (+0.80%), also found support.
Bitcoin Cash SV (-0.15%), EOS (-0.15%), Litecoin (-0.45%), and Tezos (-2.16%) saw red on the day, however.
In the current week, the crypto total market rose to a Monday high $360.52bn before falling to a Tuesday low $331.45bn. At the time of writing, the total market cap stood at $345.56bn.
Bitcoin’s dominance fell to a Monday low 60.62% before rising to a Tuesday high 64.08%. At the time of writing, Bitcoin’s dominance stood at 61.26%.
At the time of writing, Bitcoin was up by 0.07% to $11,479.0. A mixed start to the day saw Bitcoin fall to an early morning low $11,459.0 before rising to a high $11,492.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day for the majors.
At the time of writing, Tron’s TRX was up by 2.34% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $11,412 to support a run at the first major resistance level at $11,605.
Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $11,546.0.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $11,738 before any pullback.
Failure to avoid a fall through the $11,412 pivot level would bring the first major support level at $11,279 into play.
Barring another extended crypto sell-off, however, Bitcoin should avoid sub-$11,000 levels. The second major support level at $11,086 should limit any downside.