Bitcoin, BTC to USD, fell by 1.00% on Friday. Partially reversing a 3.44% rally from Thursday, Bitcoin ended the day at $57,297.0.
It was a mixed start to the day. Bitcoin rose to an early morning intraday high $58,159.0 before hitting reverse.
Falling short of the first major resistance level at $59,295, Bitcoin slid to an early afternoon intraday low $55,183.0.
Bitcoin fell through the first major support level at $55,430 before briefly revisiting $57,800 levels.
Falling short of $58,000 levels, Bitcoin fell back to end the day at sub-$57,300 levels.
The near-term bullish trend remained intact supported by the latest visit to $58,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $24,751 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Friday.
Litecoin rallied by 9.61%, with Crypto.com Coin rising by 3.56% to buck the trend on the day.
It was a bearish day for the rest of the majors.
Binance Coin slid by 9.21% to lead the way down, with Cardano’s ADA (-8.10%) and Chainlink (-5.75%) weren’t far behind.
Bitcoin Cash SV (-1.30%), Ethereum (-3.22%), Polkadot (-1.54%), and Ripple’s XRP (-2.80%) also saw red.
In the current week, the crypto total market fell to a Monday low $1,508bn before rising to a Thursday high $1,769bn. At the time of writing, the total market cap stood at $1,727bn.
Bitcoin’s dominance fell to a Tuesday low 60.13% before rising to a Friday high 63.23%. At the time of writing, Bitcoin’s dominance stood at 62.35%.
At the time of writing, Bitcoin was down by 1.36% to $56,517.0. A mixed start to the day saw Bitcoin rise to an early morning high $57,358.0 before falling to a low $56,504.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV was up by 2.01% to buck the trend early on.
It was a bearish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was down by 3.84% to lead the way down.
Bitcoin would need to move back through the pivot level at $56,880 to bring the first major resistance level at $58,576 into play.
Support from the broader market would be needed for Bitcoin to break out from February’s swing hi $58,321.2.
Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $60,000. The second major resistance level sits at $59,856.
Failure to move back through the $56,880 pivot would bring the first major support level at $55,600 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear sub-$54,000 levels. The second major support level sits at $53,904.