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Bitcoin traders eye weekly close volatility with $27K BTC price on radar

6d6fa68a-6d75-49f2-87b8-909c0a244a39.jpg

Bitcoin price analysis on both long and short timeframes is now focusing on the importance of the $27,000 mark.

Bitcoin (BTC) cruised into a new weekly close on Oct. 15 as “ultra boring” trading conditions still offered hope of a $27,000 breakthrough.

8b39891d-c4da-428b-955a-6a087c6a5616.pngBTC/USD 1-hour chart. Source: TradingView

"Ultra boring" BTC price may yet surprise at weekly close

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

— Skew Δ (@52kskew) October 15, 2023

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.

“Unchanged perspective. Did a double-bottom test at $26,500 and held there. Currently fighting resistance, through which another test of $27,000 should end up with a breakout to $27,800.”
1350ca91-0d18-40df-98f4-3416804e82b6.pngBTC/USD annotated chart. Source: Michaël van de Poppe/X

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.

21a2ad4b-cd64-433e-8276-c1e5e8c3cc41.jpegBTC/USD chart with bull market support band. Source: Daan Crypto Trades/X

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

— Daan Crypto Trades (@DaanCrypto) October 15, 2023

Bitcoin adoption curve model calls for $27,000 support

$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 investment manager at Cane Island Alternative Advisors, who saw the BTC price level gaining importance going forward.

Thanks to the relationship between price and adoption, $27,000 should constitute a form of benchmark which sustains as support around 75% of the time by the end of 2023.

“Bitcoin price spends 75% of its time above its adoption curve. That curve will reach $27,000 in 60 days,” he wrote on X alongside a demonstrative chart.

9b21dc66-8429-43b9-b21f-095e93ed17a0.jpegBitcoin Adoption Curve chart. Source: Timothy Peterson/X

In August, Peterson predicted a 15% BTC price dip by October, while $100,000 should hit within the next three years.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source

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  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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