3 weeks ago
Key points:
Bitcoin investigation identifies the all-important terms constituent to clasp into the play adjacent arsenic all-time highs loom.
Liquidity is tightly clustered astir existent spot price, with $106,000 the apt adjacent battleground.
Some traders are expecting the bid to participate terms find to fail.
Bitcoin (BTC) preserved elephantine gains into the May 11 play adjacent arsenic investigation flagged the cardinal level to clasp next.
BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewAnalysis: BTC terms tin “kickstart the breakout process”
Data from Cointelegraph Markets Pro and TradingView showed play upside volatility, delivering caller multimonth highs of astir $105,000.
A deficiency of liquidity during “out of hours” trading contributed to the move, which erstwhile much came connected the backmost of positive rumors implicit a US-China commercialized deal.
$BTC
almost tagging $105K disconnected again headlines
markets volition privation to spot fruition of Trumps comments regarding a way guardant with commercialized betwixt US & China
Shipping information does already suggest insiders cognize hence instrumentality measurement has concisely picked up again pic.twitter.com/AijqalylwS
Now, fashionable trader and expert Rekt Capital confirmed that Bitcoin could adjacent kickstart a instrumentality to all-time highs and terms discovery.
The all-important play adjacent level to flip to support, helium said, laic astatine astir $104,500.
“Can Bitcoin bash it? Can Bitcoin Weekly Close supra the Range High of its precocious reclaimed Re-Accumulation Range to kickstart the breakout process?” helium queried successful a post connected X alongside an explanatory chart.
“Bitcoin is connected the cusp of opening Price Discovery Uptrend 2.”
BTC/USD 1-week chart. Source: Rekt Capital/XAn further update calculated the existent Bitcoin bull marketplace arsenic 85.5% complete, yet with the astir erratic upswings inactive to come.
— Rekt Capital (@rektcapital) May 9, 2025A look astatine the latest speech bid publication information from monitoring assets CoinGlass showed a ample unreality of asks clustered astir the country instantly beneath $106,000 astatine the clip of writing.
Bids were laddered down to $102,000, creating a thickening set of liquidity astir spot terms into the play close.
BTC liquidation heatmap. Source: CoinGlassBitcoin tin inactive retrace “entire move”
Some marketplace participants remained bearish connected abbreviated timeframes.
Related: Is Bitcoin astir to spell parabolic? BTC terms targets see $160K next
On X, fashionable trader HTL-NL argued that the existent propulsion toward all-time highs would extremity arsenic a “fakeout” to trap precocious longs.
“Will $BTC close/open the week remaining wrong the range, volition it bash a 'fake retired (UTAD)' oregon was this truly a reaccumulation scope arsenic galore privation to believe,” helium wrote connected the day.
“To beryllium honest, though I inactive favour the archetypal 2 options based connected M/Q charts, it being reaccumulation is not impossible.”
BTC/USDT 1-hour chart. Source: HTL-NL/XAnother dependable of caution, 1 each excessively acquainted successful Bitcoin trading circles, came successful the signifier of chap trader Il Capo of Crypto.
In his latest X updates, the pseudonymous commentator warned that BTC/USD could close to the grade that its full rebound disappears.
“This is the clip to standard out, not in,” helium argued connected May 10.
“Strong resistances are being tested, and if this is conscionable a correction of the downtrend since January, the full determination could yet beryllium afloat reversed.”Il Capo of Crypto originally gained notoriety for his $12,000 BTC terms targets astatine the commencement of the bull marketplace successful 2023.
This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.
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