Bitcoin Price Forecast: It’s remained a bearish start to the week

It’s remained a bearish start to the week for the majors, with provision levels in play across the board. A Bitcoin (BTC) return to $47,500 would be required to return confidence.

After a bearish end to the week for BTC and the broader market, it’s been a mainly bearish morning.

At the time of writing, Bitcoin, BTC to USD, was down by 5.09% to $44,833.0.

A variable start to the day saw BTC increase to an early morning high of $47,327.0 before hitting the opposite.

Falling little from the first main resistance level at $48,127, BTC slid to a mid-morning intraday small $44,833.0.

The sell-off saw BTC decrease through the first major support level at $46,594 while the second major support level at $45,949.

Though routing clear of the third major support level at $44,416, BTC failed to move back through to $45,000 levels.