Bitcoin made a late push toward the end of the week, climbing to $111,000 before the Sunday close — but optimism remains muted as traders warn the move could be short-lived.
Traders doubt the weekend rally
According to data from TradingView, Bitcoin briefly touched $111,129 on Bitstamp, marking a fresh monthly high and signaling renewed buyer activity across major exchanges.
Crypto investor and entrepreneur Ted Pillows noted that both Binance and Coinbase were showing strong bids for BTC — a notable change from the previous week, when U.S. trading hours were dominated by sell pressure. Still, he expressed skepticism about the timing:
“It’s the same story every weekend. They bid on Sundays, but when markets reopen, it fades again.”
Some analysts echoed the cautious tone. Market watcher Exitpump suggested the move could continue toward $113K–$114K before Monday, but described confidence in the rally as “low” given the typical volatility of Sunday trading sessions.
Whale selling pressures persist
Meanwhile, not all signals were bullish. Trader BitBull highlighted that a major whale wallet had offloaded roughly $650 million worth of BTC since the 20% correction from October’s highs — a sign that large holders may still be distributing into strength rather than accumulating.
Key resistance levels to watch
Technical analyst Rekt Capital pointed out Bitcoin’s 21-week Exponential Moving Average (EMA) at around $111,230 as a crucial line to reclaim for bullish continuation.
“Bitcoin isn’t far from regaining the 21-week EMA for a successful post-breakout retest,” Rekt Capital said.
However, Pillows added that true confirmation for bulls would come only if BTC can flip $112,000 into firm support.
Fibonacci pattern hints at a possible bottom
On-chain analyst Cas Abbe from CryptoQuant analyzed Bitcoin’s recent pullback through Fibonacci retracement levels. He noted that BTC tends to bottom around the 38.2% Fibonacci level, a pattern seen repeatedly since early 2023.
“Last month, Bitcoin bounced exactly from that level again,” Abbe explained. “If the pattern holds, BTC may have already found its floor. But if the price closes a monthly candle below it, the bull phase could be in danger.”
The Fibonacci level in question sits just above the $100,000 mark — now watched closely as Bitcoin’s final line of defense for maintaining its broader bullish structure.
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