Bitcoin, BTC to USD, rallied by 11.83% on Wednesday. Following a 0.04% decline on Tuesday, Bitcoin ended the day at $37,368.0.
A bearish start to the day saw Bitcoin fall to an early morning intraday low $32,469.0 before making a move.
Steering clear of the first major support level at $31,634, Bitcoin surged to a late intraday high $37,499.0.
Bitcoin broke through the first major resistance level at $34,611 and the second major resistance level at $35,820.
Falling short of $38,000 levels, however, Bitcoin eased back to end the day at $37,300 levels.
The near-term bullish trend remained intact supported by the latest move back through to $37,000 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.
Polkadot fell by 4.34% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Crypto.com Coin rallied by 11.01% to lead the way.
In the current week, the crypto total market rose to a Monday high $1,670bn before falling to a Tuesday low $1,374bn. At the time of writing, the total market cap stood at $1,600bn.
Bitcoin’s dominance fell to a Monday low 41.28% before rising to an early Thursday high 43.59%. At the time of writing, Bitcoin’s dominance stood at 43.54%.
At the time of writing, Bitcoin was down by 0.65% to $37,125.0. A mixed start to the day saw Bitcoin rise to an early morning high $37,622.0 before falling to a low $36,848.1.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin was up by 0.74% to buck the trend early on.
It was a bearish start for the rest of the majors, however.
At the time of writing, Binance Coin was down by 1.34% to lead the way down.
Bitcoin would need to avoid the $35,779 pivot to bring the first major resistance level at $39,088 into play.
Support from the broader market would be needed for Bitcoin to break back through to $39,000 levels.
Barring a broad-based crypto rally, the first major resistance level and resistance at $40,000 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $40,809.
A fall through the $35,779 pivot would bring the first major support level at $34,058 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$34,000 levels. The second major support level sits at $30,749.