Key points:
Key Bitcoin price levels above and below spot price are here as BTC is about to start a new week.
A quiet weekend is slated to give way to volatility as fresh macro catalysts appear.
A “busy week” will see the release of the Federal Reserve’s favorite US inflation gauge.
Bitcoin (BTC) kept traders guessing into Sunday’s weekly close as analysis focused on the final resistance before all-time highs.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
BTC price wedged between crunch levels
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering below $116,000.
This meant that the price remained wedged between support and resistance at $114,000 and $117,200, respectively.
As Cointelegraph reported, both levels were on the radar throughout last week as price reacted to US macroeconomic volatility triggers.
“The retest of $114k (black) into support continues to be successful but there is resistance at ~$117.2k (blue),” popular trader and analyst Rekt Capital summarized while uploading a corresponding chart to X on the day.
“This makes for a range-bound construction and we’ll soon find out how weak or strong a resistance $117.2k really is.”BTC/USD one-week chart. Source: Rekt Capital/X
Fellow trader Daan Crypto Trades had an expanded view, focusing on $112,000 and $118,000 for market cues.
“Very little happening indeed. It’s now the 4th weekend in a row where we have seen little volatility and likely no gap being created,” he acknowledged, referring to weekend “gaps” in CME Group’s Bitcoin futures market.
“We’ll see where this wants to go next week. Main short term levels for me to watch are $112K & $118K.”BTC/USDT 15-minute chart. Source: Daan Crypto Trades/X
Crypto investor and entrepreneur Ted Pillows agreed on the lack of movement on BTC/USD.
“It has been consolidating around the $116,000 level for some time now,” part of an X post stated.
“If bulls are able to push Bitcoin above the $117,000 region, a rally could happen. Otherwise the plan will be a dump followed by a rally in Q4.”BTC/USDT one-day chart. Source: Ted Pillows/X
Bitcoin faces new…
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