Bitcoin (BTC) sought to recover $27,000 into the May 14 weekly close as volatility picked up out of hours.
BTC price gains over 7% in two days
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $27,200 on Bitstamp.
Its highest in several days, the performance reflected gains of around 7.5% versus local lows from the week’s final Wall Street trading session.
“Strong movements on Bitcoin as it swept all the lows in recent moves and grinds back up to $27.2K,” an optimistic Michaël van de Poppe, founder and CEO of trading firm Eight, reacted.
“Patience, as flipping $27.2K is the first serious trigger for continuation upwards. In that case, close to a temporary bottom & potentially new highs to $36-42K still possible.”
Popular trader Daan Crypto Trades noted that there was now potential for a “gap” in CME Bitcoin futures markets to appear at the May 15 open.
“If BTC holds at current prices, it will open up with a CME gap tomorrow. These gaps to tend to get filled, especially during a ranging environment,” he told Twitter followers.
“It’s good to note how during strong trends (up and down), these gaps are more likely to be left open.”
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Author: William Suberg
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