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A mixed start to the day saw Bitcoin fall to an early morning intraday low $53,304.0 before making a move.
Steering clear of the first major support level at $50,493, Bitcoin rallied to a late intraday high $55,437.0.
Falling short of the first major resistance level at $56,049, however, Bitcoin eased back to sub-$55,000 levels before ending the day at $55,000 levels.
The near-term bullish trend remained intact supported by the partial recovery to $55,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a bullish day on Tuesday.
Bitcoin Cash SV rallied by 10.87% to lead the way.
Binance Coin (+6.29%), Cardano’s ADA (+5.57%), Chainlink (+4.62%), Crypto.com Coin (+5.11%), Ethereum (+5.31%), and Litecoin (+5.12%) also found strong support.
Polkadot (+2.35%) and Ripple’s XRP (+2.94%) trailed the front runners, however.
Early in the week, the crypto total market fell to a Monday low $1,778bn before rising to a Tuesday high $2,078bn. At the time of writing, the total market cap stood at $2,057bn.
Bitcoin’s dominance rose to a Monday high 51.73% before falling to a Tuesday low 49.94%. At the time of writing, Bitcoin’s dominance stood at 50.27%.
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