Bitcoin, BTC to USD, fell by 0.95% on Wednesday. Partially reversing a 6.09% gain from Tuesday, Bitcoin ended the day at $62,914.0.
A bullish start to the day saw Bitcoin rise to a mid-morning intraday high and a new swing hi $64,829.0 before hitting reverse.
Bitcoin broke through the first major resistance level at $64,775 before falling to a late intraday low $61,306.0.
Steering clear of the first major support level at $61,078, Bitcoin moved back through to $62,900 levels to reduce the deficit on the day.
The near-term bullish trend remained intact supported by the latest move through to $64,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Wednesday.
Binance Coin (-0.22%) and Polkadot (-0.02%) saw red to buck the trend alongside Bitcoin on the day.
It was a bullish day for the rest of the majors, however.
In the current week, the crypto total market fell to a Monday low $1,959bn before rising to a Wednesday high $2,259bn. At the time of writing, the total market cap stood at $2,170bn.
Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Wednesday low 53.68%. At the time of writing, Bitcoin’s dominance stood at 54.41%.
At the time of writing, Bitcoin up by 0.32% to $63,115.0. A bullish start to the day saw Bitcoin rise from an early morning low $62,907.0 to an early morning high $63,327.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Ethereum (+0.43%) and Crypto.com Coin (+3.07%) joined Bitcoin in the green to buck the trend early on.
It was a bearish start for the rest of the majors, however.
At the time of writing, Ripple’s XRP was down by 1.29% to lead the way down.
Bitcoin would need to avoid a fall back through the pivot level at $63,016 to bring the first major resistance level at $64,727 into play.
Support from the broader market would be needed for Bitcoin to break out from $64,500 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s new swing hi $64,829.0 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $68,000 before any pullback. The second major resistance level sits at $66,539.
Failure to avoid a fall back through the $63,016 pivot would bring the first major support level at $61,204 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels. The second major support level sits at $59,493.