Bitcoin, BTC to USD, rallied by 8.25% on Monday. Following on from a 2.54% gain on Sunday, Bitcoin ended the month up by 42.95% to $19,696.3.
It was a bullish end to the month. Bitcoin rallied from an early morning low $18,196.0 to a mid-afternoon intraday high and a new swing hi $19,844.0.
Bitcoin broke through the day’s major resistance levels to come within the range of $20,000 before pulling back.
The late pullback saw Bitcoin briefly fall back through the third major resistance level at $18,608 before wrapping up the day at $19,690 levels.
The near-term bullish trend remained intact, in spite of the recent slide back to sub-$17,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $10,053 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Monday.
Polkadot slid by 4.45% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Litecoin surged by 10.95% to lead the way.
It was also a mixed bag for the month.
Ripple’s XRP surged by 177.02% to lead the pack.
Cardano’s ADA (+85.17%), Chainlink (+26.91%), Ethereum (+59.55%) and Litecoin (+57.35%) also found strong support.
Binance Coin (+10.29%), Bitcoin Cash SV (+9.39%) trailed the front runners, however.
Bucking the trend in the month were Crypto.com Coin (-20.47%) and Polkadot (-10.08%).
At the start of the week, the crypto total market cap rose from a Monday low $531.50bn to a Monday high $593.32bn. At the time of writing, the total market cap stood at $573.35bn.
Bitcoin’s dominance fell to a Monday low 62.47% before rising to a Monday high 67.46%. At the time of writing, Bitcoin’s dominance stood at 63.36%.
At the time of writing, Bitcoin was down by 0.50% to $19,597.0. A mixed start to the day saw Bitcoin rise to an early morning high $19,715.0 before falling to a low $19,506.0
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Chainlink (+0.09%) and Crypto.com Coin (+4.17%) bucked the trend early on, with Bitcoin Cash SV flat.
It was a bearish start for the rest of the majors, however.
At the time of writing, Litecoin was down by 1.63% to lead the way down.
Bitcoin would need to avoid a fall through the pivot level at $19,245 to bring the first major resistance level at $20,295 into play.
Support from the broader market would be needed for Bitcoin to break through to $20,000 levels.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test resistance at $20,500 before any pullback. The second major resistance level sits at $20,893.
Failure to avoid a fall through the $10,245 pivot would bring the first major support level at $18,647 into play.
Barring an extended crypto sell-off, Bitcoin should steer clear of sub-$18,000 levels. The second major support level sits at $17,597.