Bitcoin bulls are eyeing the skies as the world’s top cryptocurrency hovers just beneath its all-time highs. This weekend’s price action may hold the key to whether we see a historic breakout — or a short-lived fakeout.
$104,500 — The Magic Number
With BTC currently holding strong around $104,200, market experts like Rekt Capital are watching one level closely: $104,500. If Bitcoin can close the week above this crucial point, it could officially re-enter price discovery mode — a phase where there’s no historical resistance to stop the momentum.
In his latest post on X, Rekt Capital emphasized that reclaiming this range high could mark the beginning of a serious bullish breakout. According to him, the current bull run is already 85.5% complete, but the most explosive gains might still be ahead.
Liquidity: Tight and Telling
Looking at data from CoinGlass, liquidity is tightening around BTC’s current zone, with major sell orders stacked just under $106,000 and buy bids lined up down to $102,000. This creates a highly reactive zone — where even small moves could trigger big swings.
The recent price pump to nearly $105,000 came during low-volume trading hours, reportedly sparked by optimism around a potential US-China trade deal.
Not Everyone’s Convinced
While bulls are charging, not all traders are convinced. Popular voices like HTL-NL warn that this move might be a “fakeout” designed to trap overconfident long positions. He suggests that BTC might fall back into its previous range — or worse.
Meanwhile, the ever-cautious Il Capo of Crypto believes we could see a full retracement. “This is the time to scale out, not in,” he posted, suggesting Bitcoin may still be following a larger corrective pattern that began back in January.
---
What’s Next?
If Bitcoin holds above $104,500 into the weekly close, prepare for fireworks. But if resistance proves too strong, we might be in for a rude awakening. Either way, the next 48 hours could define the market's direction for weeks.