According to Cointelegraph: A Bitcoin analyst has predicted that Bitcoin may take 'several more weeks' of consolidation before breaking the $70,000 barrier, as the cryptocurrency's price faces continual rejection above this level. Bitcoin hovered near vital price levels into the May 26 weekly close, with a focus on $69,000. Weekend trading saw a brief pass of $69,500 before consolidation, according to data from Cointelegraph Markets Pro and TradingView.
Trader Daan Crypto Trades pointed out an increasing liquidity building up around the ~$69K range, with $68.3K and $69.8K as key levels to watch short-term. An accompanying chart showed liquidity concentrations for the BTC/USDT perpetual swaps pair on the world's largest platform, Binance.
Meanwhile, analyst Rekt Capital highlighted resistance above $71,000 and predicted continuous consolidation between $60,000 and $70,000 for several more weeks. Following this projection, the May monthly close could still conclude in red, aligning with trends from the previous three years.
