Bitcoin, BTC to USD, rose by 3.87% on Monday. Following a 9.66% rally on Sunday, Bitcoin ended the day at $40,509.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $38,732.0 before making a move.
Steering clear of the first major support level at $36,075, Bitcoin surged to an early afternoon intraday high $40,980.0.
Bitcoin broke through the first major resistance level at $40,649 before falling back to sub-$40,000 levels.
Finding late support, however, Bitcoin moved back through to $40,500 levels to deliver the upside on the day.
The near-term bullish trend remained intact supported by the latest move back through to $40,000 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 bullish day on Monday.
Bitcoin Cash SV surged by 18.05% to lead the day, with Polkadot rallying by 13.03%.
Early in the week, the crypto total market fell to a Monday low $1,591bn before rising to a Monday high $1,667bn. At the time of writing, the total market cap stood at $1,656bn.
Bitcoin’s dominance fell to a Monday low 45.44% before rising to a Monday high 46.18%. At the time of writing, Bitcoin’s dominance stood at 45.66%.
At the time of writing, Bitcoin was down by 0.50% to $40,308.0. A mixed start to the day saw Bitcoin rise to an early morning high $40,621.0 before falling to a low $40,308.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Crypto.com Coin was down by 1.24% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $40,074 pivot to bring the first major resistance level at $41,415 and the 38.2% FIB of $41,592 into play.
Support from the broader market would be needed for Bitcoin to break out from Monday’s high $40,980.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at the 38.2% FIB would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $43,000 before any pullback. The second major resistance level sits at $42,322.
A fall through the $40,074 pivot would bring the first major support level at $39,167 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels. The second major support level sits at $37,826.