Falling short of the first major resistance level at $33,438, Bitcoin slid to a late afternoon intraday low $31,150.0.
Bitcoin fell through the first major support level at $31,898.
Steering clear of sub-$31,000 support levels, Bitcoin partially recovered to end the day at $31,890 levels. The first major resistance level at $31,898 pinned Bitcoin back at the day’s end.
The near-term bullish trend remained intact, in spite of the latest return to $31,000 levels. For the bears, Bitcoin would need a sustained fall 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 rose by 2.1% to buck the trend on the day.
It was a bearish day for the rest of the majors, however.
Bitcoin Cash SV (-2.67%) and Polkadot (-2.38%) saw relatively modest losses on the day.
In the current week, the crypto total market rose to a Monday high $1,419bn before falling to a Thursday low $1,257bn. At the time of writing, the total market cap stood at $1,293bn.
Bitcoin’s dominance fell to a Tuesday low 45.74% before rising to a Wednesday high 46.84%. At the time of writing, Bitcoin’s dominance stood at 45.95%.