Bitcoin (BTC) price analysis identifies the all-important price point to hold into the weekly close as all-time highs loom.

Bitcoin analysis identifies the all-important price point to hold into the weekly close as all-time highs loom.

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 to kick off the new week as analysis identified the key level to keep an eye on next.

BTC price can ‘kickstart the breakout process’

Data from Cointelegraph Markets Pro and TradingView showed weekend upside volatility delivering new multi-month highs of nearly $105,000.

A lack of liquidity during “out of hours” trading contributed to the move, which once more came on the back of positive rumors over a US-China trade deal.

$BTCalmost tagging $105K off again

headlines will want to see fruition of Trumps comments regarding a path forward with trade between US & ChinaShipping data does already suggest insiders know hence container volume has briefly picked up again pic.twitter.com Now, popular trader and analyst Rekt Capital confirmed that Bitcoin could even kickstart a return to all-time highs and price discovery.

The all-important weekly close level to flip to support, he said, lay at around $104,500.

“Can Bitcoin do it? Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?” he queried in a post on X alongside an explanatory chart.

Can Bitcoin do it?Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process? (1/3)

Chart: Rekt Capital, X

An additional update calculated the current Bitcoin bull market as 85.5% complete, yet with the most erratic upswings still to come.

#BTC Bull Market Progress:▓▓▓▓▓▓▓▓░░ 85.5%(Progress will speed up on Parabolic advances)$BTC #Crypto #Bitcoin pic.