Bitcoin Nears $69,000 as Key Resistance Levels Hold Steady
Keith Alan, co-founder of trading resource Material Indicators, emphasized the importance of turning $69,000 into support.
Bitcoin stayed near key price levels into the May 26 weekly close, with weekend trading centering around $69,000.
Data from Cointelegraph Markets Pro and TradingView showed a strong performance by BTC/USD, which briefly surpassed $69,500 before consolidating.
Despite some market predictions for a weekend upside, resistance zones kept gains in check.
“As price is ranging around ~$69K, there’s some liquidity building up on both sides,” noted popular trader Daan Crypto Trades in his latest analysis on X (formerly Twitter).
“Most notably: $68.3K & $69.8K. Good levels to watch in the short term going into next week.”
An accompanying chart highlighted liquidity concentrations for the BTC/USDT perpetual swaps pair on Binance, the largest global exchange.
Across BTC order books, liquidity was increasing around the spot price, leading to lower volatility but raising the chances of a liquidity raid later.
Keith Alan, co-founder of trading resource Material Indicators, emphasized the importance of turning $69,000 into support.
BITCOIN/BLOCKCHAIN NEWS/CRYPTO NEWS TODAY
Bitcoin Nears $69,000 as Key Resistance Levels Hold Steady
Keith Alan, co-founder of trading resource Material Indicators, emphasized the importance of turning $69,000 into support.
BY MARK TRAVERS
MAY 26, 2024
Bitcoin stayed near key price levels into the May 26 weekly close, with weekend trading centering around $69,000.
Data from Cointelegraph Markets Pro and TradingView showed a strong performance by BTC/USD, which briefly surpassed $69,500 before consolidating.
A month after the #bitcoinhalving 'we're on our way to...
Despite some market predictions for a weekend upside, resistance zones kept gains in check.
“As price is ranging around ~$69K, there’s some liquidity building up on both sides,” noted popular trader Daan Crypto Trades in his latest analysis on X (formerly Twitter).
