Bitcoin, BTC to USD, slipped by 0.26% on Monday. Following a 0.36% gain on Sunday, Bitcoin ended the day at $59,874.0.
A bullish start to the day saw Bitcoin rise to a mid-morning intraday high $61,338.0 before hitting reverse.
Bitcoin broke through first major resistance level at $60,733 before sliding to a late morning intraday low $59,492.0.
Steering clear of the first major support level at $59,319, Bitcoin revisited $60,500 levels before easing back to sub-$60,000.
The near-term bullish trend remained intact supported by the latest move back through to $61,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 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.
Ethereum (-0.58%) and Polkadot (-1.88%) saw relatively modest losses on the day.
It was a bullish day for the rest of the majors, however.
Cardano’s ADA (+4.02%) also avoided the red.
Early in the week, the crypto total market rose to a Monday high $2,056bn before falling to a Monday low $1,959bn. At the time of writing, the total market cap stood at $2,036bn.
Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Monday low 54.65%. At the time of writing, Bitcoin’s dominance stood at 55.40%.
At the time of writing, Bitcoin was up by 0.77% to $60,337.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,859.0 before rising to a high $60,397.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-1.21%), Bitcoin Cash SV (-1.32%), Chainlink (-0.03%), Polkadot (-0.54%), and Ripple’s XRP (-1.36%) saw red early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Litecoin was up by 2.37% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the pivot level at $60,235 to bring the first major resistance level at $60,977 into play.
Support from the broader market would be needed for Bitcoin to break out from $60,500 levels.
Barring an extended crypto rally, the first major resistance level and the March swing hi $61,699 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $63,000 before any pullback. The second major resistance level sits at $62,081.
Failure to avoid a fall back through the $60,235 pivot would bring the first major support level at $59,131 into play.
Barring another extended sell-off on the day, Bitcoin should steer well clear of the second major support level at $58,339.