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A mixed start to the day saw Bitcoin rise to an early morning intraday high $50,737.0 before hitting reverse.
While falling short of the first major resistance level at $51,332, Bitcoin broke through the 23.6% FIB of $50,473.
The reversal saw Bitcoin slide back through the 23.6% FIB to a final hour intraday low $46,644.0.
Bitcoin also fell through the first major support level at $48,967 and the second major support level at $47,469.
The near-term bullish trend remained intact in spite of the latest slide back to sub-$47,000 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 mixed day on Saturday.
Cardano’s ADA rallied by 8.24%, with Ripple’s XRP gaining 6.22% to buck the trend on the day.
It was a bearish day for the rest of the majors, however.
Chainlink slid by 11.04% to lead the way down.
Binance Coin (-6.61%), Bitcoin Cash SV (-8.54%), Ethereum (-10.56%), and Litecoin (-8.07%) also struggled.
Crypto.com Coin (-4.53%) and Polkadot (-3.07%) saw relatively modest losses on the day.
In the current week, the crypto total market rose to a Wednesday high $2,577bn before sliding to an early Thursday low $1,965bn. At the time of writing, the total market cap stood at $2,162bn.
Bitcoin’s dominance rose to a Monday high 46.90% before falling to a Saturday low 40.04%. At the time of writing, Bitcoin’s dominance stood at 40.88%.
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