Source: Keith Alan/XPopular trader Crypto Tony held a similar view, suggesting that even another $4,000 drop from current levels by the weekly close would be acceptable.$BTC / $USD - Update A close above $108,000 this week would be perfect, but a close above $104,000 is equally as ok as we clear the resistance zone pic.twitter.com/f1jYRouinj— Crypto Tony (@CryptoTony__) May 25, 2025Fellow trader Merlijn eyed a classic short-term BTC price magnet in the form of a new “gap” on CME Group’s Bitcoin futures.“$BTC just left a fresh CME Gap at $107,230,” he showed on the day. “These gaps don’t stay open for long.
Alan nonetheless had good news for Bitcoin bulls, arguing that price had more room to retest support without extinguishing the broader uptrend.“The MACRO trend line and 2 key Moving Averages on the Bitcoin Daily chart currently have confluence with the Yearly Open,” he noted, referring to the BTC/USD 2025 opening level at around $93,500. “As long as BTC is trading above that zone, the Bull trend is still intact.”BTC/USD 1-day chart.
He opened a $BTC short position of 1,038.7 $BTC($111.8M) at $107,711.1 an hour ago, with a liquidation price of $149,100.pic.twitter.com/uLypq5kLTj— Lookonchain (@lookonchain) May 25, 2025“That's a lot of trading for an illiquid choppy weekend,” trader Daan Crypto Trades wrote while reacting to the switch on X. This article does not contain investment advice or recommendations.
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Author / Journalist: Cointelegraph by William Suberg
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