A dip below $46,000 has little impact on sentiment, with a longer-term view still favoring a showdown with $60,000 and above.
Bitcoin (BTC) saw lows of under $45,600 on Aug. 15 as a second instalment of its resistance rejection played out.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD giving up $46,000 overnight on Saturday after an earlier failed breakout.
As Cointelegraph reported, bulls had run out of steam during an attack on a major sell wall holding Bitcoin back from $50,000.
The U-turn sparked a more fragile mood for Sunday, with daily losses sitting at 4% at the time of writing.
Fellow trader, analyst and Cointelegraph contributor Michaël van de Poppe likewise hinted about a longer-term moment of reckoning potentially appearing soon.
“Bitcoin is inside the higher timeframe resistance,” he tweeted Saturday.
Buy and sell levels on major exchange Binance showed the $48,000 sellers still firmly in place, with support amassing at $45,000 after the modest leg down.
While many in the top-fifty cryptocurrencies by market cap either canceled out or saw weak 24-hour gains, the top five all lost in step with BTC.
Market participants continue to expect altcoin opportunities to increase in the coming months, with a focus on DeFi tokens in particular.