Bitcoin, BTC to USD, rose by 1.73% on Monday. Following a 3.77% rally on Sunday, Bitcoin ended the day at $52,676.0.
After mixed start to the day, Bitcoin fell to a mid-day intraday low $51,050.0 before making a move.
Steering clear of the first major support level at $50,200, Bitcoin rallied to a late intraday high $52,742.0.
Bitcoin broke through the first major resistance level at $52,630 to end the day at $52,670 levels.
The near-term bullish trend remained intact, supported by the latest return to $52,000 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
It was a bearish day for the rest of the majors, however.
Litecoin slid by 5.52% to lead the way down.
Early in the week, the crypto total market fell to a Monday low $2,307bn before rising to a Monday high $2,387bn. At the time of writing, the total market cap stood at $2,379bn.
Bitcoin’s dominance fell to a Monday low 41.09% befor rising to an early Tuesday high 41.72%. At the time of writing, Bitcoin’s dominance stood at 41.67%.
At the time of writing, Bitcoin was down by 0.02% to $52,663.0. A mixed start to the day saw Bitcoin fall to an early morning low $52,573.0 before rising to a high $52,749.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin was up by 2.78% early on. Binance Coin (+0.24%), Bitcoin Cash SV (+0.30%), and Cardano’s ADA (+0.34%) also found early support.
It was a bearish start for the rest of the majors, however.
At the time of writing, Ripple’s XRP was down by 1.17% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $52,156 pivot to bring the first major resistance level at $53,262 into play.
Support from the broader market would be needed for Bitcoin to break back through $53,000 levels.
Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,848.
A fall through the $52,156 pivot would bring the first major support level at $51,570 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $50,473 and the second major support level at $50,464.