According to TradingView data, BTC price changes have been concentrated around annual highs.
The price of bitcoin held steady over the weekend as attention was drawn to geopolitical developments in Russia and its neighboring countries.
As the day went on, tensions decreased, but interest in how the markets would respond on June 26 at the open persisted. The weekly candle close, which is already a well-known source of volatility, was the first to react.
Popular trader Rekt Capital has identified the “most bullish scenario” for the weekly closure over the crucial $30,000 threshold.
Mid-April saw BTC reject the $30,000 resistance. A second post was made over the weekend; let’s see if $BTC can convert $30,000 into support.
Trader friend Crypto Should Bitcoin successfully consolidate near $31,000, Tony remained optimistic for a move to $32,000 in the near future.
Michal van de Poppe, the founder and CEO of the trading firm Eight, expressed some uncertainty about the bulls’ capacity to maintain their momentum.
He tweeted, “Bitcoin made a nice high, through which it swept the yearly high.”
“I’m unsure whether we’ll continue running from here, but during uptrends you’ll most likely see price continuing to run rather than have deep corrections. If we have a correction, $28,500 I buy.”
In order to “buy the dip” below $30,000, Van de Poppe reiterated a common downside goal among investors.
Bitcoin Sets New Records In 3 Countries
Despite a decline in volatility relative to the US dollar this week, Bitcoin nevertheless managed to break records in three different nations.
The value of BTC in relation to local currencies reached record highs in Argentina, Venezuela, and Lebanon.
That pattern has persisted for those nations into 2023 as macroeconomic policy decisions and inflation rapidly reduce buying power.
The BTC/TRY pair was getting close to the location of its blow-off peak from December 2021 in Turkey, as the lira tumbled to new lows against the dollar.