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Bitcoin Volatility Sets Weekly and Monthly Record Close Possible

Bitcoin By
1710848790 Japan039s 15 Trillion Pension Fund Explores Diversifying Into Bitcoin
1710848790 Japan039s 15 Trillion Pension Fund Explores Diversifying Into Bitcoin

The following are key points.

  • Bitcoin’s volatility increases this weekend as Hyperliquid James Wynn, the infamous James Wynn, flips back and forth between BTC shorts and BTC longs.

  • The bulls are staying for a short time. “in control” BTC Price Action

  • Bitcoin may reach new highs if Bitcoin closes its weekly and monthly candles at their highest levels ever.

BitcoinBTCThe weekly close on the 29th of June was a familiar $108,500 “whale games” Combining bullish market structures.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin’s two-week peak as James Wynn is back

Data from Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD rose 1% for the day and is now nearing two-weeks highs.

“Out-of-hours” Trading conditions means that less liquidity allows for more volatile movements on the market with lower volume.

News now-infamous James Wynn, a hyperliquid trader who specializes in shorting BTC for $13.9 million opened the position and triggered what seemed to be a bid by market participants to close it.

Wynn liquidation price at time of writing was $108,630, Bitcoin being inches away from that level. Wynn’s short was closed prematurely and he went long on around 60 BTC.

Other chart analyses showed that the strength of Bitcoin would continue.

“If you look at the 15-minute chart, the structure is bullish,” Autumn Riley, a popular trader wrote about her experience in part. ongoing commentary On X. 

“Every time price sweeps a high, it reacts down but keeps making higher lows. The pressure from sellers is fading slowly.”

BTC/USDT 15-minute chart. Source: Autumn Riley/X

Fellow trader BitBull, meanwhile, noted a golden cross playing out on Bitcoin’s Moving Average Convergence/Divergence (MACD) indicator — a sign that near-term price action was outperforming.

“Another signal which shows that bulls are in control,” Part of an X post On the subject reported 

“Right now, we are in a low liquidity weekend so don’t expect big movements. Once the market opens tomorrow, I’m sure the volatility will kick in and it’ll most likely be to the upside.”

Chart of BTC/USD for 1 day with MACD. Source: BitBull/X

BTC price eyes record candle closes

Rekt Capital, a popular analyst and trader who is well-known for his work in the financial markets, has been focusing on a price level of importance ahead of both weekly and monthly candles closing.

Related: Bitcoin long-term holders stack 800K BTC per month in record hodl run

Bitcoin was about to make history, according to his argument this weekend. It would be the biggest weekly closing ever.

“Can Bitcoin Weekly Close above the final major Weekly resistance?” He queried.

“Bitcoin has never performed such a Weekly Close. Therefore in doing so, that would not only be historic, but it would enable Bitcoin to enjoy a new uptrend into new All Time Highs.”

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

Bitstamp has the highest ever weekly close at just under $109,000. The highest monthly closing is lower at around $104,630.

Rekt Capital stated earlier this week that the a close above $102,400 A confirmation of a “monthly range breakout.”

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.