Bitcoin traders eye weekly close volatility with $27K BTC price on radar
Bitcoin (BTC) cruised into a new weekly close on Oct. 15 as “ultra boring” trading conditions still offered hope of a $27,000 breakthrough.
Data from Cointelegraph Markets Pro and TradingView tracked a typically sideways weekend, with BTC price volatility absent prior to the close.
Still acting around the key $26,800 mark, Bitcoin denied traders major trajectory cues, while spot markets were quiet.
$BTC
Typical weekend algos hunting over exposed positions into CME Futures open around 12hrs from now & weekly open tomorrow
Not really any significant flow for this weekend so far, just one spot buyer & perp buyer ~ likely algo pic.twitter.com/z38tKoozK3
Considering upside potential, Michaël van de Poppe, founder and CEO of MN Trading, argued that there was room for a BTC price trip to $27,800.
“Weekends are ultra boring for trading, especially for Bitcoin,” he told X subscribers on the day.
Popular trader and analyst Daan Crypto Trades meanwhile eyed an upcoming weekly candle closing below a “bull market support band” formed of two moving averages.
“Still no convincing close above or below for some weeks now as we trade right around the area,” part of X commentary stated.
Additional analysis predicted volatility picking up toward the end of the day, with the latest CME Group Bitcoin futures closing price at $26,840 an area of interest.
#Bitcoin Pretty straightforward weekend.
Expecting some volatility & volume increase in a few hours as we tend to see on Sunday afternoon. https://t.co/ghsVin9KxM pic.twitter.com/oNyIaWiZx8
$27,000 and beyond also formed a focus as potential longer-term support over the weekend.
Related: Did SBF really use FTX traders’ Bitcoin to keep BTC price under $20K?
This came from Timothy Peterson, founder and
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