Bitcoin price volatility makes it weekly and monthly shutdowns


Key points:

  • Bitcoin sees weekend volatility as super-liquid flip-flops by the infamous James Wynn between short and long BTC.

  • Short-term display of bulls “control” BTC price action.

  • Weekly and monthly candle closings have a chance to be the highest Bitcoin ever.

Bitcoin (BTC) With $108,500, approaching 29 times a week, the familiar “whale game” combines with a bullish market structure.

BTC/1 hour chart. Source: Cointelegraph/TradingView

Bitcoin hits two-week high when James Wynn returns

From Cointelegraph Markets Pro and TradingView Shows BTC/USD to get a 1% high on the day.

The “extra time” of trading conditions means that lower liquidity allows less turbulent market movement.

news Now notorious Super liquid trader James Wynn opened a $13.9 million short position in BTC, which has sparked attempts from other market participants to liquidate it.

At the time of writing, Wynn’s liquidation price is $108,630, and Bitcoin reaches that level. Wynn ended his short term prematurely, flipping it over a long time with about 60 BTC.

Elsewhere, chart analysis sees encouraging signs that Bitcoin market strength will continue.

“If you look at a 15-minute chart, the structure is optimistic,” the popular Trader Autumn Riley in part Ongoing Comments On X.

“Every time the price is high, it reacts, but creates higher lows. The pressure on the seller is slowly fading away.”

BTC/USDT 15 minutes chart. Source: Riley in Autumn/X

Meanwhile, trader Bitbull pointed out that there is a Golden Cross on Bitcoin’s moving average convergence/divergence (MACD) indicator that this shows that recent price action outperforms performance.

Part of “Another signal indicating the bull is in control” X Posts About the topic report.

“At the moment, we’re on a low liquidity weekend, so don’t expect big moves. The market opens tomorrow, I’m sure volatility will start and it’s likely that benefits will be achieved.”

BTC/USD 1-day chart with MACD data. Source: Bitbull/X

BTC price eye record candle close

Before weekly and monthly candles closed, popular businessman and analyst Rekt Capital is next a key point of interest.

Related: Bitcoin long-term holders stack 800k BTC in record hodl operation

He believes this weekend that Bitcoin is at the forefront of the highest distance per week in history.

“Can Bitcoin exceed the ultimate significant resistance of each week?” Query.

“Bitcoin has never had such a weekly approach. So doing so will not only be historic, but it will also allow Bitcoin to enjoy a new uptrend.”

BTC/USD 1 week chart. Source: Rekt Capital/X

Currently, the highest weekly closure ever is located above $109,000 on Bitstamp. The highest monthly closing is lower About $104,630.

Earlier this week, Rekt Capital said Close $102,400 Enough to confirm the “monthly range breakthrough”.

This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.