Bitcoin’s Weekly Closing Target Exceeds $108,300

The following are key points.

• Analysis says that Bitcoin could keep its bull market range if it can reclaim $108,400 within the next few hours.

• As the order book becomes thinner, volatility rises as we approach the end of each week.

• Altcoin Futures shows how much traders have suffered since the bear market’s bottom.

BitcoinBTC() added volatility to Sunday’s closing price as the price moved towards a crucial reclaim point.

BTC Price Volatility to Continue, says Trader

Data derived from Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD hit a new local high of $108,260.

What happens after a? painful end to the TradFi trading week X Trader Daan Crypto Tradings called The following are some of the ways to get in touch with each other: “interesting week.”

“Volatility definitely high here due to the thin books post this massive market flush,” He wrote.

Looking at liquidation data, Daan Crypto Trades predicted The volatility will continue “for a while.”

“Books are thin. Especially after the massive liquidation event last week,” He added. 

“This combined with weekend price action and a lot of emotional traders makes for relatively volatile moves on low timeframes.”

Monitoring resource: The latest statistics CoinGlass The total amount of cryptoliquidations in the last 24 hours, at the time this article was written, is more than 200 million dollars.

Hours before the close of each week, both ask and bid liquidity increased around exchange order books.

“Bitcoin is not far away from securing a positive Weekly Close above $108381 to preserve the historical Weekly demand area (orange), despite the downside wicks below it,” Rekt Capital is an analyst and trader. said While uploading the Weekly Chart to X.

Altcoin Futures Explain the Grim Crypto Sentiment

Crypto market sentiment was lifted by the relief of further decline. “extreme fear” Zone, as per the data. Crypto Fear & Greed Index.

Related: Bitcoin price ‘lines up nicely’ for $95K drop next despite bullish RSI data

It was up seven points on the six-month lows of just a few days ago.

Luke Martin, the host of STACKS Podcast, who is a crypto trader/analyst, said that altcoins are dragging down the market.

It is a good idea to get in touch with someone who can help you. X post Martin posted a chart on Saturday showing Binance’s 50 top altcoins futures. Chris Jack, Chief Growth Officer of Robuxio’s algorithmic crypto trading platform created the chart.

“This chart perfectly illustrates why sentiment is bearish/tired even though $BTC still above $100k,” He was arguing.

“A basket of the top 50 altcoins now trading BELOW where they were post-FTX crash in 2022.”

Martin made reference to the implosion of crypto exchange FTXThe infamous announcement of the’s bear market will be at its end in 2022.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.