Bitcoin price expected to surpass $70K in the coming weeks, says cryptocurrency analyst

Bitcoin (BTC) remained near important price levels as the week closed on May 26, with focus on trading at $69,000. BTC/USD showed strong performance, briefly surpassing $69,500 before consolidating. However, weekend gains were limited by resistance zones. Liquidity was building up on both sides around the $69,000 mark, increasing the likelihood of a liquidity raid in the future. Flipping $69,000 to support was emphasized as crucial by Keith Alan, co-founder of trading resource Material Indicators. The Memorial Day holiday in the United States would result in closed markets on May 27. Popular trader and analyst Rekt Capital highlighted the resistance above $71,000, stating that Bitcoin may consolidate for several more weeks. Despite breaking out to $71,500 after the post-halving “danger zone,” Bitcoin was rejected from the range high resistance of the Macro Re-Accumulation Range. The May monthly close could still be in the red, following the trend of the past three years. As always, readers should conduct their own research and exercise caution when making investment decisions.