Bitcoin and other cryptocurrencies experienced mixed price actions over the past few sessions. Meanwhile, BTC has to climb back through the $48K levels to support the upside market momentum.
On Thursday, BTC-USD climbed by 0.73%. With that, the dominant coin partially reversed Wednesday’s 1.67% plunge to end the day near $46,389.0. However, Bitcoin started yesterday with unpredictable moves, declining to morning lows of $45,546 before registering progress.
BTC climbed to trade at $47,398.6 during afternoon sessions after keeping away the initial crucial support at $44,578. However, the $47,457 initial resistance challenged the asset, declining towards sub-$46,100 before securing support.
Nevertheless, Bitcoin retained its short-term bullishness despite the recent flash crash to $43,000. For bears to dominate, BTC will require a continuous plunge towards the 62% Fibonacci of $27,237. That would translate to a short-term bearish trend.
Thursday witnessed mixed market progress. Ethereum led the losers after plunging by 2.13%. XRP also depicted the ugly sentiments with a 1.15% plummet. However, other top coins experienced bullishness. Crypto.com Coin led the upside moves after surging 10.03%. Chainlink (+3.05%) and Polkadot (+6.72%) ended the day with healthy price actions. Other tokens that found footing are BNB (+1.49), ADA (+1.88%), and LTC (+0.91%).
This week, the total crypto market climbed to $2.438 trillion on Tuesday before plunging to $1.835 trillion the same day. While writing this content, the market capitalizations hover at $2.145 trillion. On the other hand, BTC had its dominance rising to 43.64% on Tuesday before declining to 40.15% on Thursday. While writing these lines, the flagship virtual token has its market dominance at 40.77%.
While publishing this content, Bitcoin trades at $46,436 after rising by 0.10%. However, unpredictable early sessions pushed the asset high to $46,486.3 before declining to $46.291. The market leader did not test its critical resistance and support levels.
Elsewhere, the market sustained mixed sessions early on Friday. Crypto.com Coin canceled its previous trend after dropping 0.36% of its value. Meanwhile, other top assets saw a bullish start today. While writing this article, Polkadot led the gainers with its 6.46% upsurge.
Bitcoin’s Day Ahead
Bitcoin has to overcome the pivot at $46,445 to test the initial crucial resistance area at $47,343. Bitcoin will require border market support to overpower the price levels at $47,000. Without correct sentiments, Thursday’s peak and initial resistance at $47,398.6 will limit Bitcoin’s upsurges.
Meanwhile, upside catalysts will see BTC climbing to test the $50,000 resistance before retracing. The leading coin has its 2nd massive resistance at $48,297. However, failure to conquer the pivot at $46,445 will see BTC landing on the initial critical support at $45,491.
Stay tuned for the latest cryptocurrency news.