Bitcoin, BTC to USD, slid by 6.17% on Monday. Reversing a modest 0.67% gain from Sunday, Bitcoin ended the day at $33,572.0.
A bullish start to the day saw Bitcoin rise to an early morning intraday high $36,784.0 before hitting reverse.
Bitcoin broke through the first major resistance level at $36,431 and the second major resistance level at $37,081.
The reversal saw Bitcoin slide through the first major support level at $35,174 and the second major support level at $34,567 to a late intraday low $33,550.0.
Coming within range of the third major support level at $33,310, Bitcoin briefly revisited $34,000 levels before easing back.
The near-term bullish trend remained intact in spite of the latest fall back through to sub-$34,000 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 mixed day on Monday.
Crypto.com Coin rose by 2.76% to buck the trend on the day.
It was a bearish day for the rest of the majors, however.
Early in the week, the crypto total market rose to a Monday high $1,656bn before falling to a Monday low $1,490bn. At the time of writing, the total market cap stood at $1,502bn.
Bitcoin’s dominance fell to a Monday low 41.28% before rising to a Monday high 41.95%. At the time of writing, Bitcoin’s dominance stood at 41.76%.
At the time of writing, Bitcoin was up by 0.02% to $33,579.4. A mixed start to the day saw Bitcoin fall to an early morning low $33,461.2 before rising to a high $34,052.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (+0.57%) and Litecoin (+0.07%) bucked the trend early on to join Bitcoin in the green.
It was a bearish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was down by 9.15% to lead the way down.
Bitcoin would need to move through the $34,635 pivot to bring the first major resistance level at $35,721 into play.
Support from the broader market would be needed for Bitcoin to break back through to $36,000 levels.
Barring a broad-based crypto rally, the first major resistance level and Monday’s high $36,784.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $37,869 and resistance at $38,000.
Failure to move through the $34,635 pivot would bring the first major support level at $32,487 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000. The second major support level at $31,401 should limit the downside.