Bitcoin, BTC to USD, slid by 3.03% on Monday. Reversing a 2.43% gain from Sunday, Bitcoin ended the day at $31,990.0.
It was a mixed start to the day. Bitcoin rose to an early morning intraday high $33,593.6 before hitting reverse.
Falling short of the first major resistance level at $34,569, Bitcoin slid to a late morning intraday low $28,540.00.
Bitcoin slid through the first major support level at $31,671 and the second major support level at $30,374.
Avoiding sub-$28,000 levels, Bitcoin revisited $32,000 levels before easing back.
The near-term bullish trend remained intact, supported by the latest breakthrough to $34,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $15,794 to form a near-term bearish trend.
Across the rest of the majors, it was a mixed day on Monday.
It was a bearish day for the rest of the majors, however.
At the start of the week, the crypto total market cap rose to a Monday high $910.09bn before sliding to a Monday low $749.51bn. At the time of writing, the total market cap stood at $892.50bn.
Bitcoin’s dominance fell from a Monday high 70.50% to a Monday low 68.17%. At the time of writing, Bitcoin’s dominance stood at 68.43%.
At the time of writing, Bitcoin was up by 2.72% to $32,861.0. A bullish start to the day saw Bitcoin rise from an early morning low $31,991.0 to a high $32,861.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was also a bullish start to the day for the crypto majors.
At the time of writing, Ethereum was up by 8.48% to lead the pack.
Bitcoin would need to avoid a fall through the pivot level at $31,375 to bring the first major resistance level at $34,209 into play.
Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $34,500 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $37,000 before any pullback. The second major resistance level sits at $36,428.
Failure to avoid a fall through the $31,375 pivot would bring the first major support level at $29,156 into play.
Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$29,000 levels. The second major support level sits at $26,321.