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After successfully reversing the trend early this week, Bitcoin hit a record $ 5,488 on Wednesday, before reversing Thursday.
A sale that continued until Friday saw Bitcoin slip to $ 4,934.7, the lowest of the week, before finding any support.
Moves during the week were significant, Bitcoin having managed to avoid another reversal of the level below 4,000 USD.
Despite the stabilization of the ship Bitcoin Friday, however, there were more losses Saturday. A 3rd day in the left red Bitcoin down 2.58% for the current week.
For Bitcoin bulls, a hold over the GIF of $ 4,816, at 23.6%, raised to $ 5,000.
Somewhere else,
Among the top 10 cryptos, it's a sea of red for the current week. The Litecoin led the race until the end Saturday, down 15.2% from Monday to Saturday.
Litecoin had a chaotic week returning to the FIB at 38.2%, between 83 and 80 USD. Five days in the red for the current week failed to reverse the first week of the quarter's rally.
Bitcoin Cash ABC was right behind Litecoin. Some profit taking was not surprising, after a 91% increase over the previous week. Becoming one of two of the top 10 short-term uptrenders, Thursday's widespread sell-off allowed Bitcoin Cash ABC to slide through the 23.6% FIBs by $ 291.
Among the best performers of the week, alongside Bitcoin, were Binance Coin and EOS. The pair was down 1.93% and 2.57% at the end of Saturday. Minor given the double-digit losses observed on many of the majors.
While major record companies are ready to partially reverse the gains of the previous week, Bitcoin's $ 5,000 recovery was essential in the week.
Due to the reversal and moderate losses of Bitcoin, Bitcoin's dominance has risen to 52%. The total limit of the cryptomarket market has gone from $ 185 billion Monday to $ 172 billion at the end of Saturday.
The slide in 24-hour volumes is also important. After reaching $ 80 billion inst rally of the week, volumes returned to less than 40 billion dollars.
Time will tell if the necessary badistance will be put in place should there be another large-scale sale of crypto …
Enter the cryptocurrency trade today
This morning,
At the time of writing, Bitcoin was up 0.28 percent to $ 5,118.1 billion. After Saturday's withdrawal, the day was bullish. The bitcoin rose from a low of $ 5,103.9 in the morning to a high of $ 5,125.6 before stabilizing.
Although the main levels of support and resistance were not tested, it was essential to maintain levels at $ 5,100.
Elsewhere, Bitcoin Cash ABC and Binance weathered the trend among majors. The pair was down 0.36% and 0.82% at the time of writing.
Ripple's XRP, which has managed to rise to a level of $ 0.33, has opened the door and could rebound if the broader market avoided a downturn.
For the day ahead
It will take one of these cryptographic rallies for Bitcoin and the market in general to go green for the week.
A return of the Bitcoin level to $ 5,200 would be the signal of the wider market. Bitcoin would need to break through the first major resistance level at $ 5,154.4, which could prove to be a challenge unless the sentiment changes materially at the start of the day.
The bears will seek to bring Bitcoin to a level below $ 5,000. A slippage of the first major support level at $ 5,061.6 could be an alarm bell for the general market.
There is no major news or regulatory decision to support the continuation of the upward trend, which could test the resilience of investors if Bitcoin continues to not exceed 38.2% of the FIB (5,809 USD) …
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