Bitcoin rallied by 13.97% on Thursday to market a 3rd consecutive day in the green. Following on from a 1.44% gain on Wednesday, Bitcoin ended the day at $6,173.6.
A bearish start to the day saw Bitcoin fall to an early morning intraday low $5,264.6 before finding support.
Steering clear of the first major support level at $5,136.8, Bitcoin rallied to a late intraday high $6,416.7.
Bitcoin broke through the major resistance levels and the 23.6% FIB of $6,300 before easing back.
The pullback saw Bitcoin fall back through the 23.6% FIB and third major resistance level at $6,222.4.
The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, reaffirmed by 13th March’s swing lo $4,000.
For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.
The Rest of the Pack
Across the rest of the top 10 cryptos, it was also a bullish day for the majors on Thursday.
Bitcoin Cash SV and Bitcoin Cash ABC led the way, rallying by 25.63% and by 20.11% respectively.
Binance Coin (+17.85%), Cardano’s ADA (+16.32%), Ethereum (+15.25%), and Tezos (+16.48%) were also amongst the front runners.
EOS (+13.71%), Litecoin (+12.11%), Monero’s XMR (+10.07%), Ripple’s XRP (+11.40%), Stellar’s Lumen (+10.61%), and Tron’s TRX (+13.04%) trailed the front runners.
Through the current week, the crypto total market cap hit a Monday high $164.76bn before sliding to a current week low $131.81bn. Upward momentum mid-week saw the market cap strike a Thursday current week high $178.76bn. At the time of writing, the total market cap stood at $169.03bn.
Bitcoin’s dominance returned to 64% levels in Monday’s market sell-off before easing back as the broader market found support. At the time of writing, Bitcoin’s dominance stood at 64.6%, as Bitcoin’s returned to $6,000 levels.
Trading volumes jumped from sub-$110bn levels early in the week to $170bn levels in the early hours of this morning. At the time of writing, 24-hr volumes stood at $163.78bn.