![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjUtMDUvMDE5NmJmODAtNzI3NS03ZWM3LTlhOTItZTBiZDczYmY1OGZj.jpg\")
<\/p>\n\n<\/p>\n\n
<\/p>\n
Key points:<\/strong><\/p>\n Bitcoin analysis identifies the all-important price point to hold into the weekly close as all-time highs loom.<\/p>\n<\/li>\n<\/ul>\n Liquidity is tightly clustered around current spot price, with $106,000 the likely next battleground.<\/p>\n<\/li>\n Some traders are expecting the bid to enter price discovery to fail.<\/p>\n<\/li>\n<\/ul>\n Bitcoin (BTC<\/a>) preserved giant gains into the May 11 weekly close as analysis flagged the key level to hold next.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed weekend upside volatility, delivering new multimonth highs of nearly $105,000.<\/p>\n A lack of liquidity during \u201cout of hours\u201d trading contributed to the move, which once more came on the back of positive rumors<\/a> over a US-China trade deal.<\/p>\n $BTC<\/a> markets will want to see fruition of Trumps comments regarding a path forward with trade between US & China<\/p>\n Shipping data does already suggest insiders know hence container volume has briefly picked up again pic.twitter.com\/AijqalylwS<\/a><\/p>\n \u2014 Skew \u0394 (@52kskew) May 10, 2025<\/a><\/p><\/blockquote>\n Now, popular trader and analyst Rekt Capital confirmed that Bitcoin could even kickstart a return to all-time highs and price discovery.<\/p>\n The all-important weekly close level to flip to support, he said, lay at around $104,500.<\/p>\n \u201cCan Bitcoin do it? Can Bitcoin Weekly Close above the Range High of its recently reclaimed Re-Accumulation Range to kickstart the breakout process?\u201d he queried in a post on X<\/a> alongside an explanatory chart.<\/p>\n \u201cBitcoin is on the cusp of beginning Price Discovery Uptrend 2.\u201d<\/p><\/blockquote>\n An additional update calculated the current Bitcoin bull market as 85.5% complete, yet with the most erratic upswings still to come.<\/p>\n #BTC<\/a> Bull Market Progress:<\/p>\n \u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2593\u2591\u2591 85.5%<\/p>\n (Progress will speed up on Parabolic advances)$BTC<\/a> #Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/Qe88NVmo2z<\/a><\/p>\n \u2014 Rekt Capital (@rektcapital) May 9, 2025<\/a><\/p><\/blockquote>\n A look at the latest exchange order book data from monitoring resource CoinGlass<\/a> showed a large cloud of asks clustered around the area immediately below $106,000 at the time of writing.<\/p>\n Bids were laddered down to $102,000, creating a thickening band of liquidity around spot price into the weekly close.<\/p>\n Some market participants remained bearish on short timeframes.<\/p>\n Related: <\/strong><\/em>Is Bitcoin about to go parabolic? BTC price targets include $160K next<\/strong><\/em><\/a><\/p>\n On X, popular trader HTL-NL argued that the current push toward all-time highs would end as a \u201cfakeout\u201d to trap late longs.<\/p>\n \u201cWill $BTC close\/open the week remaining within the range, will it do a ‘fake out (UTAD)’ or was this really a reaccumulation range as many want to believe,\u201d he wrote<\/a> on the day.\u00a0<\/p>\n \u201cTo be honest, although I still favour the first 2 options based on M\/Q charts, it being reaccumulation is not impossible.\u201d<\/p><\/blockquote>\n Another voice of caution, one all too familiar in Bitcoin trading circles, came in the form of fellow trader Il Capo of Crypto.<\/p>\n\n
\n
Analysis: BTC price can \u201ckickstart the breakout process\u201d<\/h2>\n
\n
almost tagging $105K off again headlines<\/p>\n\n
Bitcoin can still retrace \u201centire move\u201d<\/h2>\n