🎯BITCOIN $100000 soon 🎯
Bitcoin ripe for 'major leg down' as BTC price nears $80K — TraderBitcoin (BTC) is dividing opinion as a weekend BTC price surge takes BTC/USD to nearly $80,000.BTC/USD 1-hour chart. Source: TradingViewMixed reactions as Bitcoin sees weekend surgeData from Cointelegraph Markets Pro and TradingView shows Bitcoin gaining almost $2,000 in a single hourly candle on Nov. 10.Keeping in line with recent weekend price trends, bulls appear to be taking advantage of thin liquidity to drive the market higher, Cointelegraph reported.However, with BTC/USD up nearly 3% on a Sunday, some are already skeptical.“Weekend moves in low liquidity almost always full retrace btw,” popular commentator WhalePanda told followers on X.Keith Allen, co-founder of trading resource Material Indicators, reiterated the need for “some pullbacks” during BTC price uptrends.“Of course, weekends are for whale games, and we are in Price Discovery, so at this point, I’m more focused on Weekly and Monthly closes for Bitcoin,” he wrote in part of his latest X post.BTC liquidation heatmap. Source: CoinGlassBitcoin is currently up nearly 15% this week, with Cointelegraph earlier reporting on $71,500 as the key line in the sand bulls need to spark a “parabolic” phase next.Analyzing order book activity, meanwhile, popular trader Skew explained the likely methodology of the large-volume traders behind current price action.These entities drive the market lower with “spoof” ask liquidity, only to have bids filled at an artificial local low later on as a result.“Final part is they twap a % into price to create price momentum - this causes algos to bid as well,” he summarized, with the process then able to repeat.BTC/USDT 1-minute chart. Source: Skew/X“Would want to see new passive bids moved up soon to support price & increasing buying momentum in price,” a further X post added, with Skew asserting that “$80K does seem to be the target.”
