Bitcoin rose by 0.76% on Monday. Following on from a 1.23% gain on Sunday, Bitcoin ended the day at $9,194.4.
It was a mixed start to the day for Bitcoin. In the early hours, Bitcoin fell to an early morning intraday low $9,018.1 before finding support.
Steering clear of the 23.6% FIB of $8,900 and the first major support level at $8,983.6, Bitcoin rallied to a late intraday high $9,244.0.
Bitcoin broke through the first major resistance level at $9,230.2 before easing back to sub-$9,200 levels.
The near-term bullish trend remained intact in spite of the recent pullback to sub-$9,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 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.
Cardano’s ADA led the way, rallying by 4.66%
Bitcoin Cash ABC (+1.32%), Ethereum (+1.28%), Litecoin (+1.28%), Monero’s’ XMR (+1.12%), Tezos (+1.86%), and Tron’s TRX (+2.43%) also found strong support.
Binance Coin (+0.59%), EOS (+0.51%), Ripple’s XRP (+0.16%), and Stellar’s Lumen (+0.68%) trailed the front runners.
Bitcoin Cash SV bucked the trend on the day, with a 0.39% loss.
Through the start of the week, the crypto total market cap fell to a Monday low $251.36bn before rising to a high $257.92bn. At the time of writing, the total market cap stood at $256.08bn.
Bitcoin’s dominance rose to a Monday high 66.17% before falling to a low 65.97%. At the time of writing, Bitcoin’s dominance stood at 65.95%.
At the time of writing, Bitcoin was down by 0.09% to $9,185.9. A mixed start to the day saw Bitcoin rise to an early morning high $9,203.7 before falling to a low $9,181.3.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Stellar’s Lumen and Monero’s XMR led the way, with gains of 1.16% and 0.70% respectively.
At the time of writing, Bitcoin Cash SV was down by 0.01%, with Ethereum down by 0.06% to join Bitcoin in the red.
For the Bitcoin Day Ahead
Bitcoin would avoid a fall through the $9,152 pivot to support a run at the first major resistance level at $9,286.23.
Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,244.
Barring an extended crypto rebound, the first major resistance level and Monday’s high would likely cap any upside.
In the event of a crypto breakout, Bitcoin could test the second major resistance level at $9,378.07.
Failure to avoid a fall through the $9,152 pivot level could see Bitcoin struggle later in the day.
A fall back through to sub-$9,100 would bring the first major support level at $9,060.33 into play.
In the event of another extended crypto sell-off, the 23.6% FIB of $8,900 and the second major support level at $8,926.27 may be tested.