Bitcoin price in USD was rejected on Monday after a spike carried it back into a previously breached bear-flag support zone, leaving the chart pointed toward a lower objective near $46,870. The former support level is now acting as resistance, which keeps short-term traders focused on whether Bitcoin can reclaim that area or drift toward the next artificial floor around $49,000.
Bitcoin and Ethereum on Monday
Bitcoin’s Monday move printed an upper wick and stalled at the daily TBO Fast line, a level that marked the rejection area. OBV and TBO stayed negative, volume lacked strength, and RSI hovered near 50, so the rebound did not produce the kind of follow-through that would normally challenge the bearish structure.
Ethereum followed the same risk-off tone. Its Monday upper wick reached the TBO Fast line without regaining previously lost short-term support, and the daily reading remains strongly bearish. Monday’s swings also pushed a lower wick back into the TBO Cloud, which weakens the near-term uptrend even as combined stablecoin dominance stays macro bullish with the Slow line still trending upward.
BTC.D and OTHERS.D
BTC.D spiked into the Fast line and the TBO Cloud on Monday, while OTHERS.D fell lower within its Cloud and OTHERS/BTC closed inside the daily Cloud. That mix keeps the market split: Bitcoin is defending no clear short-term base, while altcoins are still absorbing the pressure from a market that has not repaired its own structure.
12.506% is the reading now hanging over USDJPY as it built toward a second weekly TBO Breakout, with RSI above 70 and a new local peak at 161.926. The pair came within 0.025 of the July 2024 high of 161.951, while DXY is approaching 101, EURUSD is short-term oversold, and S&P futures are threatening another decline within the daily TBO Cloud.
If Bitcoin fails to retake former bear-flag support, the $46,870 target stays in play, and the Monday rejection becomes the level traders use to gauge whether the next move is a clean break or another test of the $49,000 area.
