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Bitcoin, from BTC to USD, fell 0.77% on Saturday. After falling 5.85% on Friday, Bitcoin ended the day at $ 35,570.
A mixed start to the day saw Bitcoin fall from an early morning high of $ 36,316.0 to an early morning intraday low of $ 34,819.0.
Away from the first major support level at $ 34,593, Bitcoin hit an intraday high of $ 36,447.0.
Well below the first major resistance level at $ 37,640, Bitcoin fell back to $ 35,500 and into the red.
The short-term uptrend remained intact despite the latest pullback to $ 35,000. For bears, Bitcoin would need a sustained decline through the 62% FIB from $ 27,237 to form a short-term downtrend.
The rest of the pack
In the rest of the majors, Saturday was a mixed day.
Bitcoin Cash SV and Crypto.com Coin rose 3.58% and 2.79% respectively to reverse the trend for the day.
It was, however, a bearish day for the rest of the majors.
Polkadot fell 4.80% to lead the way, with Chainlink and Ripples XRP (-X%) ending the day down 4.40% and 4.46% respectively.
Cardanos ADA (-2.27%), Ethereum (-3.14%) and Litecoin (-2.50%) also struggled.
Binance Coin posted a more modest loss of 0.97%.
During the current week, the total crypto market peaked at $ 1,708 billion on Tuesday before dropping to $ 1,435 billion on Friday. At the time of writing, the total market capitalization was $ 1,454 billion.
Bitcoin dominance peaked at 46.26% on Wednesday before falling to a Saturday low of 45.05%. At the time of writing this article, Bitcoin dominance stands at 45.61%.
This morning
At the time of writing this article, Bitcoin was down 0.24% to $ 35,484.2. A mixed start to the day saw Bitcoin peaking at $ 35,736.0 early in the morning before falling to $ 35,330.0.
Bitcoin left major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Crypto.com Coin was down 3.07% to lead the way on the downside.
For Bitcoin Day Ahead
Bitcoin is expected to retreat through the $ 35,612 pivot to bring into play the first major resistance level at $ 36,405.
The story continues
Broad market support would be needed for Bitcoin to return to $ 36,000.
Barring a large scale crypto rally, the first major resistance level and Saturday’s $ 36,447.0 high would likely cap any upside potential.
In the event of another protracted crypto rally, Bitcoin could test resistance at $ 38,000 before any pullbacks. The second major level is located at $ 37,240.
If you fail to break through the pivot at $ 35,612, the first major support level at $ 34,777 would come into play.
Unless another extended sell off that day, Bitcoin is expected to avoid levels below $ 34,000. The second major support level is at $ 33,984.
This article originally appeared on FX Empire
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