Bitcoin, BTC to USD, rose by 1.25% on Wednesday. Partially reversing a 4.52% slide from Tuesday, Bitcoin ended the day at $18,558.0.
It was a bearish start to the day. Bitcoin fell to a mid-morning intraday low $17,742.0 before making a move.
The reversal saw Bitcoin fall through the first major support level at $17,959.
Finding late morning support, however, Bitcoin rallied to a late intraday high $18,630.0.
Falling short of the first major resistance level at $19,010, Bitcoin eased back to end the day at $18,500 levels.
The near-term bullish trend remained intact, in spite of the latest pullback to sub-$18,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,095 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Wednesday.
It was a bullish day for the rest of the majors, however.
In the current week, the crypto total market cap rose to a Monday high $569.88bn before falling to a Wednesday low $509.70bn. At the time of writing, the total market cap stood at $538.22bn.
Bitcoin’s dominance rose to a Wednesday high 64.26% before falling to a Wednesday low 63.03%. At the time of writing, Bitcoin’s dominance stood at 63.55%.
At the time of writing, Bitcoin was down by 0.33% to $18,497.0. A mixed start to the day saw Bitcoin rise to an early morning high $18,568.0 before falling to a low $18,470.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV (+0.52%), Crypto.com Coin (+0.66%), and Polkadot (+0.28%) found early support to buck the trend early on.
It was a bearish start for the rest of the majors, however.
At the time of writing, Litecoin was down by 0.57% to lead the way down.
Bitcoin would need to avoid a fall through the pivot level at $18,310 to bring the first major resistance level at $18,878 into play.
Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $18,630.0.
Barring an extended crypto rally, the first major resistance level and resistance at $19,000 would likely cap any upside.
In the event of a crypto breakout, the second major resistance level at $19,198 and resistance at $19,500 would likely come into play.
A fall through the $18,310 pivot would bring the first major support level at $17,990 into play.
Barring another extended crypto sell-off, Bitcoin should steer clear of the second major support level at $17,422.