The extended bullish trend remained intact: Crypto

Bitcoin rose by 0.5% on Saturday. Partially reversing a 3.7% slide from Friday, Bitcoin ended the day at $8,319.6.

A relatively bullish start to the day saw Bitcoin rise from an early morning intraday low $8,325.9 to a morning high $8,394.

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Leaving the major support and resistance levels untested, Bitcoin eased back to $8,320 levels before making a move.

Bitcoin rallied to an early afternoon intraday high $8,423.7 before pulling back.

Falling well short of the first major resistance level at $8,644.67, Bitcoin fell back to $8,310 levels before finding support.

Steering clear of sub-$8,300 levels late in the day was key.

For the current week, Saturday’s 0.5% gain contributed to a 5.54% increase, Monday through Saturday.

For the bulls, the extended bullish trend remained intact in spite of the slide to sub-$9,000 levels. While falling back through the 38.2% FIB, Bitcoin continued to hold above the 62% FIB of 7,245.

Across the rest of the top 10 cryptos, it was a mixed bag for the majors on Saturday.

Binance Coin and Bitcoin Cash SV led the way, with gains of 3.74% and 3.41% respectively.

Stellar’s Lumen (0.18%), EOS (0.29%), Bitcoin Cash ABC (1.56%), and Ripple’s XRP (1.84%) also saw green.

Litecoin and Ethereum bucked the trend on the day, with the pair falling by 0.36% and by 0.60% respectively.

For the current week, Monday through Saturday, it’s been a bullish week, however.

Binance Coin led the way, rallying by 14.07%.

Bitcoin Cash SV (8.13%), Ripple’s XRP (6.57%), Ethereum (5.69%), EOS (5.62%) and Stellar’s Lumen (5.44%) also saw solid gains.

Bitcoin Cash ABC and Litecoin trailed the pack in the week, with gains of 2.68% and 2.35% respectively.

Through the current week, the total crypto market cap rose from a Monday low $213.1bn to a Friday high $233.53bn. A bearish day on Friday, however,  led to a pullback to sub-$230bn levels. At the time of writing, the total market cap stood at $224.61bn.

Bitcoin’s dominance held back to sub-67% levels with a number of the top 10 making solid gains in the week.


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Lindsay Benjamin

Between blockchains and the unregulated sector, cryptocurrency has come a long way already. For it to be integrated into the normal economy, there is still a lot of ground to cover. Lindsay understands this and conveys the fluctuations in the cryptocurrency markets and new developments.
mm

Lindsay Benjamin

Between blockchains and the unregulated sector, cryptocurrency has come a long way already. For it to be integrated into the normal economy, there is still a lot of ground to cover. Lindsay understands this and conveys the fluctuations in the cryptocurrency markets and new developments.

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