A bullish start to the day saw Bitcoin rise to an early morning intraday high $55,222.0 before hitting reverse.
Falling short of the first major resistance level at $56,222, Bitcoin slid to a late intraday low $52,377.0.
The sell-off saw Bitcoin fall through the first major support level at $53,707 and the second major support level at $52.554.
Finding late support, however, Bitcoin broke back through the second major support level to end the day at $53,500 levels.
The near-term bullish trend remained intact supported by the partial recovery to $55,000 levels. 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 a mixed day on Thursday.
Binance Coin and Polkadot rose by 6.60% and by 8.49% respectively to lead the way.
It was a bearish day for the rest of the majors, however.
In the current week, the crypto total market fell to a Monday low $1,778bn before rising to a Wednesday high $2,124bn. At the time of writing, the total market cap stood at $2,013bn.
Bitcoin’s dominance rose to a Monday high 51.73% before falling to a Thursday low 49.20%. At the time of writing, Bitcoin’s dominance stood at 49.45%.