Bitcoin , BTC to USD, rose by 2.10% on Monday.Following a 1.24% gain on Sunday, Bitcoin ended the day at $49,252.0.
After a mixed start to the day, Bitcoin fell to a mid-afternoon intraday low $46,897.0 before making a move.
Bitcoin fell through the first major support level at $47,176 before rallying to a late afternoon intraday high $49,503.0.
The rally saw Bitcoin break through the first major resistance level at $49,252 before a pullback to sub-$49,000 levels.
Finding late support, Bitcoin broke back through to $49,000 levels.The first major resistance level pegged Bitcoin back at the day end, however.
The near-term bullish trend remained intact, supported the latest return to $49,000 levels.For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.
The Rest of the Pack Across the rest of the majors, it was a mixed day on Monday.
Bitcoin Cash SV bucked the trend, rising by 0.09% to join Bitcoin in the green.
It was a bearish day for the rest of the majors, however.
Polkadot slid by 4.99% to lead the way down, with Cardano’s ADA (-2.70%), Chainlink (-3.56%), Crypto.com Coin , (-2.50%), and Litecoin (-1.79%) also struggling.
Binance Coin (-0.98%), Ethereum (-0.95%), and Ripple’s XRP (-1.20%) saw relatively modest losses, however.
Early in the week, the crypto total market fell to a Monday low $2,082bn before rising to a Monday high $2,181bn.At the time of writing, the total market cap stood at $2,170bn.
Bitcoin’s dominance fell to a Monday low 42.06% before rising to a Monday high 42.88%.At the time of writing, Bitcoin’s dominance stood at 42.86%.
This Morning At the time of writing, Bitcoin was up by 0.31% to $49,405.0.A mixed start to the day saw Bitcoin fall to an early morning low $49,065.0 before rising to a high $49,486.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV and Polkadot bucked the early trend, with losses of 0.42% and 0.52% respectively.
Story continues It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 2.34% to lead the way.
For the Bitcoin Day Ahead Bitcoin would need to avoid the $48,551 pivot to bring the first major resistance level at $50,204 and the 23.6% FIB of $50,473 into play.
Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels.
Barring a broad-based crypto rally, the 23.6% FIB of $50,473 would likely cap the upside.
In the event of a broad-based crypto rally, Bitcoin could test resistance at $54,000 levels before any pullback.
The second major resistance level sits at $53,763.
A fall through the $48,551 would bring the first major support level at $47,598 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$46,500.
The second major support level sits at $45,945.
This article was originally posted on FX Empire
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