It was a bullish start to the day. Bitcoin rose to an early morning intraday high and a new swing hi $29,286.0 before hitting reverse.
Falling short of the first major resistance level at $29,467, Bitcoin slid to an early afternoon intraday low $27,557.0.
The pullback saw Bitcoin fall through the first major support level at $27,802 before finding support.
Late in the day, Bitcoin briefly revisited $29,150 levels before falling back to end the day at sub-$29,000 levels.
The near-term bullish trend remained intact, supported by the latest breakthrough to $29,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $13,659 to form a near-term bearish trend.
The Rest of the Pack
Across the rest of the majors, it was another mixed day on Thursday.
Polkadot surged 27.85% to lead the way, with Ripple’s XRP (+3.82%) also joining Bitcoin in the green.
It was a bearish day for the rest of the majors, however.
Litecoin led the way down, sliding by 4.37%.
Binance Coin (-1.78%), Bitcoin Cash SV (-2.14%), Crypto.com Coin (-1.54%), and Ethereum (-2.02%) also struggled.
Cardano’s ADA (-1.03%) and Chainlink (-0.07%) saw relatively modest losses on the day.
In the current week, the crypto total market cap fell to a Tuesday low $678.76bn before rising to an early Friday high $776.82bn. At the time of writing, the total market cap stood at $770.69bn.
Bitcoin’s dominance fell to a Monday low 69.13% before rising to a Thursday high 71.55%. At the time of writing, Bitcoin’s dominance stood at 71.01.
Read more:The Crypto Daily – The Movers and Shakers – January 1st, 2021