A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $10,975.1 before hitting reverse.

Bitcoin broke through the first major resistance level at $10,879 and the second major resistance level at $10,964.

The reversal, however, saw Bitcoin slide to a late afternoon intraday low $10,460.0.

Bitcoin fell through the first major support level at $10,697 and the second major support level at $10,600.

Steering clear of the third major support level at $10,418, Bitcoin bounced back to $10,600 levels. The partial recovery saw Bitcoin break back through the second major support level at $10,600.

The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Thursday.

Polkadot rose by 1.49% to buck the trend on the day.

It was a bearish day for the rest of the majors.

Binance Coin slid by 6.12% to lead the way down.

Bitcoin Cash ABC (-1.52%), Bitcoin Cash SV (-2.27%), Cardano’s ADA (-3.05%), Chainlink (-2.56%), Crypto.com Coin (-1.83%), Ethereum (-1.97%), and Ripple’s XRP (-1.63%) also struggled.

Litecoin saw a modest 0.09% loss on the day.

In the current week, the crypto total market rose to a Thursday high $344.75bn before falling to a Thursday low $325.09bn. At the time of writing, the total market cap stood at $332.99bn.

Bitcoin’s dominance rose to a Monday high 59.60% before falling to a Wednesday low 58.41%. At the time of writing, Bitcoin’s dominance stood at 59.15%.

(Excerpt) Read more Here | 2020-10-01 21:28:22
Image credit: source

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