The price Bitcoin (BTC) climbed to $27,200 on the last weekly closing of Wall Street trading session on May 14th. This was observed by platforms such as Cointelegraph Markets Pro and TradingView after Bitcoin had obtained a 7.5% gain on its local lows. Major trader Daan Crypto Trades suggested that, if the BTC/USD holds at the present rates, it will open up with a CME gap on May 15th. These gaps usually tend to be filled, mainly during a ranging environment. Traders had a conservative remark concerning regaining the levels around $27,000 before considering proceeding with long positions. The order book potential on Binance also showed liquidity movements, while the bid liquidity at $25,400 was lowered by approximately $17 million. Despite the surge of the last week closing with a 7.5% gain, analyst and trader Rekt Capital inferred that a close at $27,550 or lower will put the price of Bitcoin in danger of sustaining more losses after failing to use the support obtained from $28,800. The analyst further testified that Bitcoin will not encounter a revival as the one achieved in 2019. As a result, a weekly closing below $27,350 could affirm this point. A reminder for the reader is that this article does not offer any form of investment advice or recommendation. Every move or decision regarding investments or trading comes with risk and readers should conduct their own research before making a decision.
Leo Price
- 2023-05-14
Bitcoin Closes At $27,200 On Wall Street After A 7.5% Increase
The price of Bitcoin (BTC) climbed to $27,200 on May 14th after a 7.5% gain on its local lows. Major traders suggest that, if the BTC/USD holds present rates, it will open up with a CME gap on May 15th. Analysts caution that a weekly close below $27,350 could put Bitcoin in danger of sustaining more losses.
![CandleFocus Bitcoin-BTC-WallStreet-CMEGap-LongPositions](https://images.candlefocus.com/Bitcoin-Closes-At-dollar27200-On-Wall-Street-After-A-7.5percent-Increase.jpg)