Analysis: If BTC closes above $104,500 this week, it may start a second round of price discovery trend

Planet Daily News: BTC price broke through $105,000 before the weekly close on May 11, reaching a new high in months. Rekt Capital stated, "The key weekly closing price level of around $104,500 must become support. Bitcoin is on the edge of initiating a second round of price discovery uptrend. It is crucial whether Bitcoin can close above the upper limit of the recently reaccumulated range this week." Market data shows that current liquidity is mainly concentrated near the current price, with $106,000 becoming the next key resistance level. However, some traders remain cautious about the short-term trend, worried that the current rise might be a "false breakout" and could potentially fall back to $102,000 or lower. (Cointelegraph)