In This Article:
Bitcoin slid by 1.81% on Saturday. Following on from a 1.01% fall on Friday, Bitcoin ended the day at $10,013.
Bearish through the morning, Bitcoin fell from an early morning intraday high $10,199 to a mid-morning intraday low $9,942.9.
Bitcoin fell through the first major support level at $10,087.33 and second major support level at $9,977.67.
Finding support through the day, Bitcoin recovered to an afternoon high $10,092 before easing back through the first major support level.
Through the late afternoon, Bitcoin relied on support at the second major support level to limit the downside and wrap up the day at $10,000 levels.
A 6th day in the red for the week left Bitcoin down by 2.99%, Monday through to Saturday.
For the bulls, the extended bullish trend remained intact in spite of just 1 day in the green out of 9. While having tested support at the 38.2% FIB in the week, Bitcoin continued to steer well clear of the 62% FIB of 7,245.
The Rest of the Pack
Across the rest of the top 10 cryptos, it was a sea of red across the crypto-board.
Stellar’s Lumen and Litecoin led the way down on the day, sliding by 3.31% and by 2.52% respectively
Ethereum (-1.48%), Binance Coin (-1.36%), Bitcoin Cash SV (-1.25%), and Bitcoin Cash ABC (-1.24%) also saw deep red.
EOS led the way on the day, falling by just 0.20%.
In spite of the Saturday losses, it’s been a mixed week for the pack.
EOS joined Bitcoin in the red, with a current week loss of 1.86%.
It’s been bullish for the rest of the pack, with Stellar’s Lumen leading the way, rallying by 19.7% to return to the top 10, by market cap.
Ethereum (+13.46%) and Ripple’s XRP (+11.32%) also saw double-digit gains through to the end of Saturday.
For the rest of the pack, the gains were more modest. Litecoin rose by 4.33%, with BNB up by 3.15%. Bitcoin Cash ABC (+2.53%) and Bitcoin Cash SV (+1.26%) retailed the front runners in the week.
In the current week, the total crypto market cap slid from a Wednesday current week high $273.58bn to a Thursday current week low $261.55bn. A Thursday recovery to $273bn levels was short-lived, however. Through the rest of the week, it was downhill, with the crypto market cap falling back to sub-$270bn levels. At the time of writing, the total crypto market cap stood at $266.05bn.
Bitcoin’s dominance held at 67.6% as the rest of the pack joined Bitcoin the red on Saturday.
This Morning
At the time of writing, Bitcoin was down by 0.19% to $9,994.1. A bearish start to the day saw Bitcoin fall from an early morning high $10,029.1 to a low $9,980.