This is the tech analysis of Bitcoin (BTC). We will examine the movements of Bitcoin (BTC) from the previous day, as well as today’s support and resistance levels, pivot levels, Fibonacci’s, and today’s pivot levels. We will also examine the market’s overall movements and key market drivers. For a complete video tech analysis, including a look at EMAs, please see the end.
Bitcoin’s Day Prior Moves
Bitcoin, USD to BTC, rose by 1.54% Saturday. Bitcoin closed the day at $46,873, partially reversing a slide of 3.10% from Friday.
Bitcoin fell to a low intraday high of $45,523, after a bearish start to the morning. Bitcoin gained $47,483 in the late morning after bouncing off the $45,134 first major support level. Bitcoin lost support at the $46,633 level, but it recovered to sub-$46,000.
Despite the recent pullback to $41,000, the near-term bullish tendency remained. To form a near term bearish trend, Bitcoin must fall below the 62% FIB at $28,814
The Rest of the Pack
It was bullish across the rest of majors.
Chainlink led the way with 6.87% support. Ripple’s XRP (+3.31%), and Ripple’s XRP (+3.74%), also found strong support.
Binance Coin (+1.58%), Bitcoin cash SV (+1.34%), Cardano’s ADA (+1.97%), Crypto.com Coin ( (+1.22%), Ethereum (+2.21%), Polkadot (+1.89%), were the top three runners-up, however.
The crypto total market saw a drop to $2,054bn on Monday, before rebounding to $2,303bn on Thursday. The total market cap was $2,194bn at the time of writing.
Bitcoin’s dominance rose from a Tuesday high of 42.25% to a Saturday low of 40.22%. Bitcoin’s dominance was at 40.33% as of the writing.
This Morning
Bitcoin was at $46,848 as of the writing time. Bitcoin had fallen 0.05%. Bitcoin experienced a mixed start to the morning. It rose to an early morning high of $46,920, before plummeting to a low of $46,783.
Bitcoin did not test the major resistance and support levels early on.
It was mixed in other places.
Cardano’s ADA (+0.08%), and Litecoin (+10.05%) avoided the red in the beginning.
However, it was a bearish start to the rest of the majors.
Crypto.com Coin was at 1.34% as of the writing.
The Bitcoin Day Ahead
To reach the $47,730 resistance level, Bitcoin must avoid the $46,626 pivot. To break free from the $47,500 levels, Bitcoin would need support from the wider market.
The upside would be limited if there is a prolonged rally in crypto. Resistance at $48,000 and the first major resistance levels will likely stop the advance. Bitcoin could face resistance at $50,000 levels if it experiences an extended rally. The $48,586 level is the second major resistance.
The $46,626 pivot could be broken, and the $45,770 pivot would become the first major support level. Bitcoin should avoid sub-$44,000 levels, unless there is an extended sell-off. The downside should be limited by the second support level at $44,666 or the 38.2% FiB of $44,144.
