Falling short of the first major resistance level at $54,632, Bitcoin tumbled to a late morning intraday low $47,560.0.
Bitcoin fell through the first major support level at $49,710 and the second major support level at $47,678.
More significantly, Bitcoin also fell through the 23.6% FIB of $50,473 before finding support.
Through the rest of the day, Bitcoin broke back through the major support levels and the 23.6% FIB to end the day at $51,100 levels.
The near-term bullish trend remained intact in spite of the latest reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was another mixed day on Friday.
It was a bearish day for the rest of the majors, however.
Crypto.com Coin tumbled by 12.19% to lead the way down.
Ethereum (-1.22%) and Polkadot (-0.92%) saw relatively modest losses on the day.
In the current week, the crypto total market rose to a Monday high $2,100bn before sliding to a Friday low $1,643bn. At the time of writing, the total market cap stood at $1,839.
Bitcoin’s dominance rose to a Tuesday high 54.32% before falling to a Thursday low 50.03%. At the time of writing, Bitcoin’s dominance stood at 51.51%.