Bitcoin fell by 0.30% on Wednesday. Following on from a 0.73% decline on Tuesday, Bitcoin ended the day at $10,185.
A relatively bullish start to the day saw Bitcoin rise to an early morning intraday high $10,278.
Falling short of the first major resistance level at $10,293.73, Bitcoin fell to a mid-day intraday low $10,111.
The pullback saw Bitcoin slide through the first major support level at $10,148.73 before finding support.
Moves back through to $10,200 levels were short-lived in the 2nd half of the day, however, with Bitcoin closing out the day at sub-$10,200.
For the bulls, the extended bullish trend remained intact in spite of a 6th consecutive day in the red. Bitcoin continued to hold well above the 38.2% FIB of $9,734 and, more importantly, the 62% FIB of 7,245.
Across the rest of the top 10 cryptos, it was a sea of green on the crypto-board.
Ripple’s XRP and Stellar’s Lumen lead the way on the day once more. Stellar’s Lumen surged by 29.5%, with Ripple’s XRP rising by 9.85%.
Monero’s XMR came close behind, with a 9.33% rally on the day.
Binance Coin and Litecoin also found strong support, rising by 5.47% and by 4.84% respectively.
Bitcoin Cash ABC (+1.14%), Ethereum (+1.12%), Bitcoin Cash SV (+0.51%), and EOS (+0.41%) saw more modest gains on the day.
Recovering from a start of a week low $263.3bn on Monday, the total crypto market cap hit a current week high $273.58bn on Wednesday. At the time of writing, the total crypto market cap stood at $271.26bn.
Bitcoin’s dominance fell further back to a Wednesday low 67.17%, having hit 70.9% last week, as the broader crypto market rallied.[fx-article-ad]
At the time of writing, Bitcoin was up by 0.14% to $10,199. A bullish start to the day saw Bitcoin rise from an early morning low $10,184 to a high $10,208.
Bitcoin left the major support and resistance levels untested early in the day.
Elsewhere, it was a sea of red across the crypto-board as investors looked to lock in profits from the Wednesday rally.
Wednesday’s front runners, Monero’s XMR (-3.41%), Ripple’s XRP (-4.34%) and, Stellar’s Lumen (-3.82%) led the way down.
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Bitcoin would need to steer clear of sub-$10,190 levels to support a recovery of recent losses.
A move back through the morning high $10,208 would bring the first major resistance level at $10,271.67 into play.
With Bitcoin having trailed the broader market through the current week, a breakthrough to $10,300 levels could deliver a momentum rally later in the day.
In the event of a breakout, the second major resistance level at $10,358.33 would come into play before any pullback.
Failure to steer clear of sub-$10,190 would see Bitcoin join the rest of the pack in the red.
A fall through to $10,170 would bring the first major support level at $10,104.67 into play.
Barring a crypto meltdown, Bitcoin should steer clear of the second major support level at $10,024.33.