![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
Bitcoin Maintained Its Impressive Rally Heading Into the Weekly Close on May 11
May 12, 2025 at 05:30 pm
Bitcoin maintained its impressive rally heading into the weekly close on May 11, with analysts closely watching a critical resistance level that could shape the next phase
Bitcoin price displayed resilience as it approached the weekly close on May 11, remaining above a key level that could be pivotal for the next stage of the crypto’s bull cycle.
According to data from TradingView, heightened volatility unfolded during the weekend trading sessions, pushing Bitcoin to new multi-month highs near the $105,000 mark.
This sharp upside unfolded amid the time-limited liquidity typical of weekend sessions, a time often prone to exaggerated price swings.
Moreover, market speculation once again swirled around a potential U.S.-China trade agreement as a key driver for the surge in crypto prices.
$BTCalmost tagging $105K off again
headlinesmarkets will want to see fruition of Trumps comments regarding a path forward with trade between US & China
Shipping data does already suggest insiders know hence container volume has briefly picked up again
"The key level to flip into support lies at around $104,500," stated crypto trader and analyst, Rekt Capital, sharing an optimistic outlook on Bitcoin's potential for a major breakout.
Highlighting this on X (formerly Twitter), he posed the critical question: “Can Bitcoin do it? Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?”
#BTC Can Bitcoin do it?Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?
Bitcoin is on the cusp of beginning Price Discovery Uptrend 2$BTC #Crypto #Bitcoin pic.twitter.com/tmLsj3AA8p
He accompanied the post with a detailed chart, suggesting Bitcoin may be “on the cusp of beginning Price Discovery Uptrend 2.”
Further analysis from Rekt Capital estimated that the ongoing bull market is already 85.5% complete, yet he warned that the most volatile and dramatic upward swings are likely still ahead, a pattern often seen in the final stages of crypto bull runs.
Bitcoin Liquidity Map Signals Imminent Move
On-chain data from analytics platform CoinGlass supported the current technical setup, revealing a heavy concentration of sell orders (asks) just below $106,000.
Meanwhile, buyer support (bids) was laddered down to $102,000, forming a thick band of liquidity surrounding the spot price, a setup often seen before decisive breakouts or rejections.
Despite the bullish narrative, skepticism lingered among traders. Some viewed the recent surge with caution, recognizing it could be a trap for overly enthusiastic long positions.
Popular trader HTL-NL, weighing in on X, expressed skepticism about the move's sustainability. “Will $BTC close/open the week remaining within the range? Will it do a ‘fake out (UTAD),’ or was this a reaccumulation range, as many want to believe?” he asked.
Will $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. To be honest, although I still favour the first 2 options based on M/Q charts, it being reaccumulation is not impossible.
He leaned more toward conservative interpretations, citing macro and quarterly chart structures that suggest either a return to range or a final upward trap. However, he did concede that a true reaccumulation pattern, a bullish continuation, isn’t entirely out of the realm of possibility.
Bitcoin Rally Faces Strong Resistance Ahead
Adding to the cautionary tone, pseudonymous and often-contrarian analyst Il Capo of Crypto issued a stark warning in his May 10 update.
“This is the time to scale out, not in,” he advised, arguing that strong resistance levels are currently being tested. He suggested that if the current move is merely a corrective rally within a broader downtrend that began in January, the entire recovery could unravel, potentially leading to the loss of recent gains.
This is the time to scale out, not in.
Strong resistances are being tested, and if this is just a correction of the downtrend since January, the entire move could eventually be fully reversed.
Il Capo of Crypto has been a polarizing figure in the trading community, known for his contrarian call of a $12,000 BTC bottom at the beginning of the 2023 bull market. While that prediction never materialized, his warnings continue to resonate with more risk-averse market participants.
As Bitcoin hangs at crucial technical levels, the crypto market remains engaged in a tale of two coins: will this weekend’s strength cement breakout and spark the next leg up, or are traders about to be enticed into another carefully crafted bull trap?
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
-
-
- BTFD Coin Could Be $180K? Pre-Sale Offers 3x Tokens, 8900% ROI Potential as MELANIA Faces Backlash and PENGU Recovers Fast
- Jun 07, 2025 at 03:30 pm
- BTFD Coin offers 3x tokens, 8900% ROI, and wild presale momentum! Could this be the next crypto to explode amid MELANIA's scandal and PENGU's Walmart hype?
-
-
-
-
-
-