Steering clear of the first major support level at $38,913, Bitcoin rose to a late morning intraday high $40,623.0.
Falling short the first major resistance level at $41,010, however, Bitcoin fell back to sub-$39,500 levels before finding support. A late move back through to $40,000 reversed losses from the day.
The near-term bullish trend remained intact, supported by the latest return to $40,000 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.
Cardano’s ADA slipped by 0.15% to buck the trend.
It was a bullish day for the rest of the majors, however.
In the current the week, the crypto total market fell to a Monday low $1,379bn before rising to a Monday high $1,606bn. At the time of writing, the total market cap stood at $1,553bn.
Bitcoin’s dominance fell to a Monday low 47.07% before jumping to a Wednesday high 49.16%. At the time of writing, Bitcoin’s dominance stood at 48.44%.