Bitcoin, BTC to USD, rallied by 4.18% on Tuesday. Reversing a 0.10% decline from Monday, Bitcoin ended the day at $19,131.0.
A mixed start to the day saw Bitcoin fall to a mid-morning intraday low $18,130.0 before making a move.
Steering clear of the first major support level at $18,009, Bitcoin rallied to an early afternoon intraday high and a new swing hi $19,400.0.
Bitcoin broke through the first major resistance level at $18,730 and the second major resistance level at $19,087.
A bearish end to the day saw Bitcoin fall back to end the day at sub-$19,200 levels.
The near-term bullish trend remained intact, supported by the latest move through to $19,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $9,883 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was a mixed day on Tuesday.
In the current week, the crypto total market cap fell to a Monday low $515.94bn before rising to a Tuesday high $593.32bn. At the time of writing, the total market cap stood at $566.69bn.
Bitcoin’s dominance rose to a Monday high 64.75% before sliding to a Tuesday low of 60.80%. At the time of writing, Bitcoin’s dominance stood at 62.49%.
At the time of writing, Bitcoin was down by 0.28% to $19,078.0. A mixed start to the day saw Bitcoin rise to an early morning high $19,198 before falling to a low $19,046.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Ethereum (-0.38%) and Ripple’s XRP (-4.93%) joined Bitcoin in the red early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Binance Coin and Crypto.com Coin were up by 1.43% and by 1.48% respectively to lead the pack.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the pivot level at $18,887 to bring the first major resistance level at $19,644 into play.
Support from the broader market would be needed for Bitcoin to break out from Tuesday’s high $19,400.0
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another crypto breakout, Bitcoin could test resistance at $20,000 before any pullback. The second major resistance level sits at $20,157.
Failure to avoid a fall through the $18,887 pivot would bring the first major support level at $18,374 into play.
Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,617.