Bitcoin, BTC to USD, fell by 6.55% on Monday. Following a 0.53% decline on Sunday, Bitcoin ended the day at $43,534.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $46,796.0 before hitting reverse.
Falling short of the first major resistance level at $49,638, Bitcoin slid to a late afternoon intraday low $42,128.0.
Bitcoin fell through the first major support level at $43,789 before revisiting $44,900 levels.
A 2nd pullback, however, saw Bitcoin fall back through the first major support level to end the day at sub-$43,600 levels.
The near-term bullish trend remained intact in spite of the latest slide back to sub-$43,000 levels. For the bears, Bitcoin would need to slide 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.
Ripple’s XRP rose by 3.12% to buck the trend on the day.
It was a bearish start to the week for the rest of the majors, however.
Early in the week, the crypto total market rose to a Monday high $2,132bn before falling to a Monday low $1,885bn. At the time of writing, the total market cap stood at $2,025bn.
Bitcoin’s dominance rose to a Monday high 41.50% before falling to a Monday low 40.38%. At the time of writing, Bitcoin’s dominance stood at 41.04%.
At the time of writing, Bitcoin was up by 1.94% to $44,380.0. A mixed start to the day saw Bitcoin fall to an early morning low $43,183.0 before rising to a high $44,600.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day.
At the time of writing, Litecoin was up by 3.79% to lead the way.
Bitcoin would need to avoid a fall back through the pivot level at $44,153 to support a run at the first major resistance level at $46,177.
Support from the broader market would be needed for Bitcoin to break out from $45,000 levels.
Barring an extended crypto rally, the first major resistance level and Monday’s high $46,796.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $50,000 before any pullback. The second major resistance level sits at $48,821.
Failure to avoid a fall back through the pivot at $44,153 would bring 38.2% FIB of $41,592 and the first major support level at $41,509 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $39,485.