• 💥💥💥CRYPTO NEWSBOARD 05/26: Bitcoin will still fluctuate within the $70,000 range before continuing its upward momentum.
- From the assumption that Bitcoin will still fluctuate in the $70,000 range before continuing its new upward momentum to Coinbase will list perpetual futures contracts for Shiba Inu (SHIB), Bonk (BONK) and Floki (FLOKI). Here are some outstanding news in the crypto market.
- Data from TradingView shows strong performance for BTC/USD, which briefly surpassed $69,500 before consolidating.
- Some market observers predict an uptrend during the weekend, but prices are still limited by familiar resistance areas.
- Trader, Daan Crypto Trades, wrote in his latest analysis on X (formerly Twitter): “As the price hovers around $69,000, there is some liquidity growing on both sides.”
- “Most notable: $68,300 and $69,800. Levels to watch in the short term next week.”
- The accompanying chart shows the liquidity concentration of the BTC/USDT perpetual swap pair on the largest global exchange, Binance.
- However, on BTC order books, liquidity is increasing around spot prices, leading to lower volatility but increasing the likelihood of a subsequent liquidity raid.
- Keith Alan, co-founder of Material Indicators, emphasizes the importance of turning $69,000 into support.
- “Bitcoin lost $69,000 again. It is the strongest and most important resistance level on the chart. The market needs a weekly close above $69,000 to gain confidence in the move towards the $73 mark.000”.