{"id":20260,"date":"2025-05-11T13:31:39","date_gmt":"2025-05-11T13:31:39","guid":{"rendered":"https:\/\/gold.creditcard\/bitcoin-must-close-the-week-above-this-level-to-start-price-discovery-2\/"},"modified":"2025-05-11T13:31:39","modified_gmt":"2025-05-11T13:31:39","slug":"bitcoin-must-close-the-week-above-this-level-to-start-price-discovery-2","status":"publish","type":"post","link":"https:\/\/gold.creditcard\/es\/bitcoin-must-close-the-week-above-this-level-to-start-price-discovery-2\/","title":{"rendered":"Bitcoin must close the week above this level to start 'price discovery 2'"},"content":{"rendered":"

Key points:<\/strong><\/p>\n

Bitcoin analysis identifies the all-important price point to hold into the weekly close as all-time highs loom.<\/p>\n

Liquidity is tightly clustered around current spot price, with $106,000 the likely next battleground.<\/p>\n

Some traders are expecting the bid to enter price discovery to fail.<\/p>\n

Bitcoin (BTC<\/a>) preserved giant gains into the May 11 weekly close as analysis flagged the key level to hold next.<\/p>\n

BTC\/USD 1-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n

Analysis: BTC price can \u201ckickstart the breakout process\u201d<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> 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<\/a> over a US-China trade deal.<\/p>\n

$BTC<\/a>
almost tagging $105K off again headlines<\/p>\n

markets 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<\/a><\/p>\n

\u2014 Skew \u0394 (@52kskew) May 10, 2025<\/a><\/p>\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<\/a> alongside an explanatory chart.<\/p>\n

\u201cBitcoin is on the cusp of beginning Price Discovery Uptrend 2.\u201dBTC\/USD 1-week chart. Source: Rekt Capital\/X<\/em><\/p>\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

#BTC<\/a> 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<\/a> #Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/Qe88NVmo2z<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) May 9, 2025<\/a><\/p>\n

A look at the latest exchange order book data from monitoring resource CoinGlass<\/a> 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><\/p>\n

Bitcoin can still retrace \u201centire move\u201d<\/h2>\n

Some market participants remained bearish on short timeframes.<\/p>\n

Related: <\/strong><\/em>Is Bitcoin about to go parabolic? BTC price targets include $160K next<\/strong><\/em><\/a><\/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<\/a> 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.\u201dBTC\/USDT 1-hour chart. Source: HTL-NL\/X<\/em><\/p>\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<\/a>, 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>\n

Il Capo of Crypto originally gained notoriety<\/a> for his $12,000 BTC price targets at the start of the bull market in 2023.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n

<\/p>","protected":false},"excerpt":{"rendered":"

Key points: Bitcoin analysis identifies the all-important price point to hold into the weekly close as all-time highs loom. Liquidity is tightly clustered around current spot price, with $106,000 the likely next battleground. Some traders are expecting the bid to enter price discovery to fail. Bitcoin (BTC) preserved giant gains into the May 11 weekly […]<\/p>","protected":false},"author":0,"featured_media":20261,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-digital-finance"],"_links":{"self":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/comments?post=20260"}],"version-history":[{"count":0,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/posts\/20260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media\/20261"}],"wp:attachment":[{"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/media?parent=20260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/categories?post=20260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gold.creditcard\/es\/wp-json\/wp\/v2\/tags?post=20260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}