Bitcoin rose by 0.48% on Monday. Following on from a 3.01% rally on Sunday, Bitcoin ended the day at $9,714.8.
It was a particularly bullish start to the day. Bitcoin rallied from an early morning low $9,329.7 to an early morning intraday high $9,944.0 before hitting reverse.
Bitcoin broke through the first major resistance level at $9,924.57 before sliding to a late morning intraday low $9,450.0.
Steering clear of the first major support level at $9,370.77, Bitcoin found support in the 2nd half of the day.
The recovery saw Bitcoin strike an afternoon high $9,731.7 before easing back.
The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.
For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.
Across the rest of the majors, it was a bullish start to the week.
Bitcoin Cash SV (+6.93%), Cardano’s ADA (+6.02%), and Tezos (+4.88%) led the way.
Binance Coin (+2.09%), Bitcoin Cash ABC (+2.44%), Ethereum (+3.76%), Litecoin (+3.73%), Monero’s XMR (+2.55%), Ripple’s XRP (+2.02%), and Tron’s TRX (+2.26%) also made solid gains.
EOS (+1.73%) and Stellar’s Lumen (+1.86%) trailed the front runners on the day.
At the start of the week, the crypto total market cap rose to a Monday high $268.43bn before falling to a low $257.27bn. At the time of writing, the total market cap stood at $262.14bn.
Bitcoin’s dominance struck a Monday high 68.31% before falling back to a low 67.52%. At the time of writing, Bitcoin’s dominance stood at 67.71%.
At the time of writing, Bitcoin was down by 0.67% to $9,649.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,726.5 to a low $9,622.3.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bearish start to the day.
Bitcoin Cash SV was down by 1.43% to lead the way down.
Bitcoin would need to move through to $9,700 levels to bring the first major resistance level at $9,955.87 into play.
Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,944.0.
Barring an extended crypto rally, the first major resistance level would likely limit any upside.
In the event of rebound, the 62% FIB of $10,034 would likely come into play.
Failure to move through to $9,700 levels could see Bitcoin fall deeper into the red.
A fall back through to sub-$9,600 levels would bring the first major support level at $9,461.87 into play.
Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,208.93.