- \n
- \n
Bitcoin analysis identifies the all-important price point to hold into the weekly close as all-time highs loom.<\/p>\n<\/li>\n<\/ul>\n
- \n
- \n
Liquidity is tightly clustered around current spot price, with $106,000 the likely next battleground.<\/p>\n<\/li>\n
- \n
Some traders are expecting the bid to enter price discovery to fail.<\/p>\n<\/li>\n<\/ul>\n
Bitcoin preserved giant gains into the May 11 weekly close as analysis flagged the key level to hold next.<\/span><\/p>\n
BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/figcaption><\/figure>\n Analysis: BTC price can \u201ckickstart the breakout process\u201d<\/h2>\n
Data from Cointelegraph Markets Pro and TradingView showed weekend upside volatility, delivering new multimonth highs of nearly $105,000.<\/p>\n
A lack of liquidity during \u201cout of hours\u201d trading contributed to the move, which once more came on the back of positive rumors over a US-China trade deal.<\/p>\n
\n
$BTC
almost tagging $105K off again headlines<\/p>\nmarkets will want to see fruition of Trumps comments regarding a path forward with trade between US & China<\/p>\n
Shipping data does already suggest insiders know hence container volume has briefly picked up again pic.twitter.com\/AijqalylwS<\/p>\n
\u2014 Skew \u0394 (@52kskew) May 10, 2025<\/p><\/blockquote>\n
Now, popular trader and analyst Rekt Capital confirmed that Bitcoin could even kickstart a return to all-time highs and price discovery.<\/p>\n
The all-important weekly close level to flip to support, he said, lay at around $104,500.<\/p>\n
\u201cCan Bitcoin do it? Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?\u201d he queried in a post on X alongside an explanatory chart.<\/p>\n
\u201cBitcoin is on the cusp of beginning Price Discovery Uptrend 2.\u201d<\/p><\/blockquote>\n
BTC\/USD 1-week chart. Source: Rekt Capital\/X<\/em><\/figcaption><\/figure>\n An additional update calculated the current Bitcoin bull market as 85.5% complete, yet with the most erratic upswings still to come.<\/p>\n
\n
#BTC Bull Market Progress:<\/p>\n
\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2591\u2591 85.5%<\/p>\n
(Progress will speed up on Parabolic advances)$BTC #Crypto #Bitcoin pic.twitter.com\/Qe88NVmo2z<\/p>\n
\u2014 Rekt Capital (@rektcapital) May 9, 2025<\/p><\/blockquote>\n
A look at the latest exchange order book data from monitoring resource CoinGlass showed a large cloud of asks clustered around the area immediately below $106,000 at the time of writing.<\/p>\n
Bids were laddered down to $102,000, creating a thickening band of liquidity around spot price into the weekly close.<\/p>\n
BTC liquidation heatmap. Source: CoinGlass<\/em><\/figcaption><\/figure>\n Bitcoin can still retrace \u201centire move\u201d<\/h2>\n
Some market participants remained bearish on short timeframes.<\/p>\n
On X, popular trader HTL-NL argued that the current push toward all-time highs would end as a \u201cfakeout\u201d to trap late longs.<\/p>\n
\u201cWill $BTC close\/open the week remaining within the range, will it do a ‘fake out (UTAD)’ or was this really a reaccumulation range as many want to believe,\u201d he wrote on the day.\u00a0<\/p>\n
\u201cTo be honest, although I still favour the first 2 options based on M\/Q charts, it being reaccumulation is not impossible.\u201d<\/p><\/blockquote>\n
BTC\/USDT 1-hour chart. Source: HTL-NL\/X<\/em><\/figcaption><\/figure>\n Another voice of caution, one all too familiar in Bitcoin trading circles, came in the form of fellow trader Il Capo of Crypto.<\/p>\n
In his latest X updates, the pseudonymous commentator warned that BTC\/USD could correct to the extent that its entire rebound disappears.<\/p>\n
\u201cThis is the time to scale out, not in,\u201d he argued on May 10.\u00a0<\/p>\n
\u201cStrong resistances are being tested, and if this is just a correction of the downtrend since January, the entire move could eventually be fully reversed.\u201d<\/p><\/blockquote>\n
Il Capo of Crypto originally gained notoriety for his $12,000 BTC price targets at the start of the bull market in 2023.<\/p>\n
*********************************<\/p>\n
If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n
EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n
Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n
*********************************<\/p>\n
Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\nIf you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n
- \n
![\"\"](\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2025\/02\/Reminder2-1.jpg\")
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"