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Bitcoin Price Prediction for the Weekend—Will the Volatility Increase or the Price May Remain Stuck Around $107K?
The Bitcoin (BTC) market is set to experience a pivotal weekend, with a crucial options expiry event looming and a potential CME gap forming. As a result, traders are left wondering whether the price will continue its consolidation around $107,000 or potentially see increased volatility.
Firstly, it’s essential to acknowledge the impending options expiry of over $40 billion worth of BTC contracts. Historically, such events have led to short-term market fluctuations, particularly during weekends when liquidity is thinner. The max pain point, estimated at around $102K, may draw the price towards this level as traders unwind their positions.
In addition to this critical event, various chart patterns indicate that a CME gap might form over the weekend. This phenomenon could potentially attract significant pullbacks after marking local highs. As a result, a Sunday drop followed by a notable rebound is predicted, culminating in an ultimately bullish monthly trade.
Given these factors, Bitcoin traders should be prepared for short-term price swings, especially during this weekend’s thin liquidity conditions.
Source: coinpedia.org
