Bitcoin, BTC to USD, fell by 3.42% on Monday. Reversing a 2.21% gain from Sunday, Bitcoin ended the day at $33,078.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $34,655.0 before hitting reverse.
Falling short of the first major resistance level at $34,784, Bitcoin slid to a late intraday low $32,600.0.
Bitcoin fell through the first major support level at $33,510 and the second major support level at $32,776.
Steering clear of sub-$32,000 levels, however, Bitcoin move back through the second major support level to end the day at $33,000 levels.
The near-term bullish trend remained intact, in spite of the latest return to $32,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
Across the rest of the majors, it was a bearish day on Monday.
Early in the week, the crypto total market rose to a Monday high $1,408bn before falling to a Monday low $1,329bn. At the time of writing, the total market cap stood at $1,339bn.
Bitcoin’s dominance fell to a Monday low 45.85% before rising to a Monday high 46.27%. At the time of writing, Bitcoin’s dominance stood at 46.41%.
At the time of writing, Bitcoin was down by 0.48% to $32,919.0. A mixed start to the day saw Bitcoin rise to an early morning high $33,129.0 before falling to a low $32,855.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Crypto.com Coin was down by 0.97% to lead the way down.
Bitcoin would need to move through the $33,444 pivot to bring the first major resistance level at $34,289 into play.
Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Monday’s high $34,655.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 levels before any pullback. The second major resistance level sits at $35,499.
Failure to move through the $33,444 pivot would bring the first major support level at $32,234 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000 levels. The second major support level at $31,389 should limit the downside.