Bitcoin (BTC<\/a>) saw fresh volatility on May 6 as low-liquidity weekend trading tested the mettle of its trading range.<\/p>\n Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a> showed BTC\/USD shedding over $1,000, or 3%, in a matter of hours on the day.<\/p>\n The largest cryptocurrency saw livelier conditions typical of weekend trading while remaining unable to exit a broader corridor in place<\/a> for many weeks.<\/p>\n Amid a lack of ammuniation to either clear $30,000 resistance or drop toward key trend lines near $25,000, BTC\/USD frustrated market participants.<\/p>\n \u201cBitcoin really is in limbo right now and doesn’t know what to do .. I am back out of a position and just waiting again for one side of this range to break to re enter,\u201d popular trader Crypto Tony told<\/a> Twitter followers. <\/p>\n An accompanying chart showed potential targets in the event of a bearish breakdown.<\/p>\n Additional analysis released earlier in the day meanwhile repeated existing predictions<\/a> of $32,000 coming into play should bullish momentum return.<\/p>\n $BTC<\/a> \/ $USD<\/a> – Update <\/p>\n While the attention is all on #Memecoins<\/a> i am not surprised that we are literally seeing a stagnated #Bitcoin<\/a> <\/p>\n The fun will continue sooner or later as it always does, but for now we plan ahead. A move to the high $32,000 would be perfect pic.twitter.com\/m9uI3RmDln<\/a><\/p>\n \u2014 Crypto Tony (@CryptoTony__) May 6, 2023<\/a><\/p><\/blockquote>\n In separate coverage, fellow trader CryptoBullet described the day\u2019s losses as \u201cnothing special.\u201d<\/p>\n \u201cFinal dip before the breakout,\u201d part of commentary argued, with a chart presenting BTC\/USD in a narrowing wedge with a decision on exit trajectory due.<\/p>\n #Bitcoin<\/a> $BTC<\/a> 4h update<\/p>\n Nothing special about the current dump, just (e) in the making<\/p>\n Final dip before the breakout https:\/\/t.co\/pFw8HX8jNq<\/a> pic.twitter.com\/ko4Q0nlkwE<\/a><\/p>\n \u2014 CryptoBullet (@CryptoBullet1) May 6, 2023<\/a><\/p><\/blockquote>\n As ever, longer timeframes were a cause for more optimistic views.<\/p>\n Related:\u00a0Bitcoin trader eyes $63K BTC price for new Bollinger Bands \u2018breakout\u2019<\/a><\/em><\/strong><\/p>\n Analyzing the weekly chart, analyst Gert van Lagen flagged<\/a> the 200-week simple moving average (SMA) as the resistance line to clear next, with Bitcoin possibly completing an equally bullish inverse head and shoulders chart pattern.<\/p>\n Trader and investor CryptoAce meanwhile highlighted a large weekly resistance zone for bulls to tackle.<\/p>\n \u201cStay below and $24k is where price will be trading in some weeks imo,\u201d part of an update on trading activity read on the day.<\/p>\n $BTC<\/a> Last week took short from $29.7k & covered $28k \u2014 Cryptoce (@CryptoAceBTC) May 6, 2023<\/a><\/p><\/blockquote>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/f859bd77-bfa4-4d49-8754-36e0fb25a87a.png\")
Bitcoin “in limbo” despite volatili<\/h2>\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/11861e10-9a61-4400-af83-c3d984e5b450.png\")
\n
\n
BTC price bulls must\u00a0 clear $30,000<\/h2>\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2023-05\/8d86f989-123d-469c-9806-0ee62bf92b8d.png\")
\n
Weekly resistance block $29.7k – $31.5k
Stay below and $24k is where price will be trading in some weeks imo<\/p>\n
Now looking to short above $29.5k till $31.5k for $24k https:\/\/t.co\/uewwZLtMzc<\/a> pic.twitter.com\/BVtGahtLr7<\/a><\/p>\n