BTC Price Surge: New Highs or Double Top?

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Bitcoin is already testing traders' nerves and pockets as the highest weekly close ever was followed by a dive back to $102,000.

Bitcoin starts a new week with a long-awaited breakout from a narrow trading range around $103,000. 

BTC price action grabs liquidity before reversing to its starting position, liquidating many an emotional trader on the way. A fakeout or a taste of things to come?

The May 18  daily and weekly close nonetheless became Bitcoin’s highest ever.

US trade deals remain high on the list of macro volatility triggers for risk asset traders this week.

Crypto’s correlation with stocks paints a mixed picture, adding to uncertainty over how macro developments will influence Bitcoin and altcoins going forward.

Bitcoin exchange volume delta becomes a key ingredient in assessing the staying power of BTC price breakouts.


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