Analysis: If BTC closes above $104500 this week, it may initiate a second round of price discovery trends

Odaily Planet Daily News: BTC price broke through $105000 before the weekly closing on May 11th, setting a new high in several months. Rekt Capital stated that "the key weekly closing price level for Bitcoin is around $104500 and must turn into support. Bitcoin is on the verge of opening a second round of price discovery and upward trend. Whether Bitcoin can regain the upper edge of the re accumulation range at this week's closing station is crucial." Market data shows that current liquidity is mainly concentrated near the current price, with $106000 becoming the next key resistance level. However, some traders are cautious about the short-term trend, fearing that the current rise may be a "false breakthrough" and may fall back to $102000 or lower in the future. （Cointelegraph）