At the time of writing, Bitcoin, BTC to USD, was up by 8.97%to $38,591.0.
Bitcoin fell to a low of $35,233.0 in the morning before it made a move.
Bitcoin rallied to an early morning high of $39,777.0, avoiding the $34,386 first major support level.
Bitcoin broke through the day’s major resistance levels to test resistance of $40,000, before briefly falling back to levels below $38,500.
Despite the pullback, Bitcoin did not fall below the $38,031 major resistance level.
The Rest of the Pack
The wider crypto market also had a mixed day.
Through the morning, Chainlink was up by 14.76% to lead the way.
Strong support was also shown for Cardano’s ADA (9.92%) and Ethereum (+7.24%), Litecoin (8.06%), Ripple’s XRP (plus 9.06%)).
Binance Coin (+5.52%), Bitcoin cash SV (+4.58%), Crypto.com Coin (+6.87%) were the closest to the front runners.
The morning saw Polkadot reverse the trend and fell by 1.12%
The crypto total market plunged to $1,407bn in the early hours of the morning before rising to $1,546bn at the end. The total market cap was $1,519bn at the time of writing.
Bitcoin’s dominance dropped to an early low of 46.93%, before climbing to a high of 48.66%. Bitcoin’s dominance was at 47.63% as of the writing.
The Afternoon Agenda
To support another run at the 38.2% FIB at $41,592, Bitcoin must avoid a fall below the third major resistance level of $38,031
To see Bitcoin rise from its early morning high of $39,777.0, support from the wider market is needed.
The resistance at $40,000 will likely keep the upside from any extended crypto rally.
Bitcoin could resist a further extended rally at 38.2% FIB (41,592). Bitcoin’s last $42,000 level was on 22 and May.
