Bitcoin, BTC to USD, fell by 2.38% on Wednesday. Partially reversing a 4.14% gain from Tuesday, Bitcoin ended the day at $35,063.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $36,099.0 before hitting reverse.
Falling well short of the first major resistance level at $36,939, Bitcoin fell to a late intraday low $34,428.0.
Bitcoin fell through the first major support level at $34,566 before a partial recovery to $35,000 levels.
The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall 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.
It was a bullish day for the rest of the majors, however.
Ethereum led the way, rising by 5.13%.
In the current week, the crypto total market fell to a Monday low $1,342bn before rising to a Tuesday high $1,485bn. At the time of writing, the total market cap stood at $1,431bn.
Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Wednesday low 45.85%. At the time of writing, Bitcoin’s dominance stood at 45.85%.
At the time of writing, Bitcoin was down by 0.17% to $35,001.9. A mixed start to the day saw Bitcoin rise to an early morning high $35,069.0 before falling to a low $34,942.8.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin bucked the trend, rallying by 4.91%.
It was a bearish start for the rest of the majors, however.
At the time of writing, Chainlink was down by 0.83% to lead the way down.
Bitcoin would need to move through the $35,197 pivot to bring the first major resistance level at $35,965 into play.
Support from the broader market would be needed for Bitcoin to break out from $35,500 levels.
Barring a broad-based crypto rebound, the first major resistance level and resistance at $36,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $36,868.
Failure to move through the $35,197 pivot would bring the first major support level at $34,294 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level at $33,526 should limit the downside.