Bitcoin Hits Two-Week High Near $63.5K Before Risky Monday Open
BTC surged to its highest level in nearly two weeks over the weekend, but traders are bracing for a historically rough Monday session.
Bitcoin clawed its way back toward $63,500 heading into the weekly close, a level the asset hadn't touched in roughly two weeks. That's the good news. The bad news? Monday is coming — and if you've traded BTC for any length of time, you already know what that can mean.
A trader flagged the concern bluntly, calling Bitcoin's Monday price action record "absolutely terrible." That's not hyperbole — it's a pattern experienced crypto traders recognize. Weekend pumps can evaporate fast once traditional market participants log back on and algorithmic rebalancing kicks in at the New York open.
Read more Micron Stock: Why $1,750 Could Be the New Price Target →
The rally into the weekly close looked technically constructive on the surface. Reclaiming levels not seen in nearly a fortnight signals buyers stepped up, and momentum heading into a close always matters for weekly chart structure. But momentum and Monday morning are two things that don't always get along in crypto markets.
If you're holding a long position into Sunday night, the smart play is knowing your risk. A "terrible" open doesn't mean a capitulation — it means volatility, and volatility cuts both ways. Have your levels ready, watch the first few hourly candles closely, and don't get caught averaging into a move that hasn't confirmed direction yet.
The broader picture still hinges on whether Bitcoin can establish $63,500 as support rather than resistance. One strong weekly close doesn't flip the trend — it starts the conversation. Continue reading at Cointelegraph.
