Bitcoin, BTC to USD, slipped by 0.02% on Wednesday. Following a 1.02% fall from Tuesday, Bitcoin ended the day at $11,440.0.
It was a mixed start to the day. Bitcoin rose to an early morning high $11,500 before hitting reverse.
Coming up against resistance at $11,500, Bitcoin fell to a mid-day low $11,376.0.
Steering clear of the major support levels, Bitcoin rose to an early afternoon intraday high $11,564.0.
Coming up against the first major resistance level at $11,567, Bitcoin fell to a mid-afternoon intraday low $11,309.0.
Bitcoin fell through the first major support level at $11,325 before recovering to $11,440 levels.
The near-term bullish trend remained intact, supported by the latest move back through to $11,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Wednesday.
Binance Coin and Bitcoin Cash ABC rose by 0.26% and by 0.78% respectively to buck the trend.
It was a bearish day for the rest of the majors.
Crypto.com Coin led the way down, sliding by 5.55%.
Cardano’s ADA (-2.18%), Polkadot (-1.61%), and Ripple’s XRP (-2.83%) also saw relatively heavy losses.
Bitcoin Cash SV (-0.22%), Chainlink (-0.91%), Ethereum (-0.63%), Litecoin (-0.24%) saw relatively modest losses on the day.
In the current week, the crypto total market slid to a Monday low $344.29bn before rising to a Monday high $365.23bn. At the time of writing, the total market cap stood at $351.85bn.
Bitcoin’s dominance fell to a Monday low 59.47% before rising to a Wednesday high 60.17%. At the time of writing, Bitcoin’s dominance stood at 60.01%.
At the time of writing, Bitcoin was down by 0.14% to $11,424.1. A bearish start to the day saw Bitcoin fall from an early morning high $11,440.0 to a low $11,424.1.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bearish start to the day.
At the time of writing, Bitcoin Cash SV was down by 0.98% to lead the way down.
Bitcoin would need to move back through the pivot level at $11,438 to bring the first major resistance level at $11,566 into play.
Support from the broader market would be needed, however, for Bitcoin to break back through to $11,500 levels.
Barring an extended crypto rally, the first major resistance level and Wednesday’s high $11,564.0 would likely cap any upside.
In the event of another crypto breakout, Bitcoin could test resistance at $11,700 before any pullback. The second major resistance level sits at $11,693.
Failure to move back through the $11,438 pivot would bring the first major support level at $11,311 into play.
Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $11,183.