Bitcoin reached $111,000 for the first time in November, but traders anticipate a weekend downside. Coinbase sell pressure is back as a Bitcoin whale distributes BTC. Bulls struggle to reclaim lost support above $111,200. Some traders distrust the “Sunday pump” trend, expecting it to fade. BTC saw local highs of $111,129 on Bitstamp amid bidder interest.

Data shows renewed distribution from a Bitcoin whale wallet with $650 million outflows since October. Trader Exitpump forecasts potential gains up to $114,000 on Sunday. Rekt Capital highlights Bitcoin’s 21-week EMA as a key resistance level. A contributor to CryptoQuant notes BTC typically bottoms around the 38.2% Fibonacci level, suggesting a bounce back.

Trader BitBull observes a Bitcoin whale selling more BTC, with $55 million deposited to Kraken today. Pillows emphasizes the need for bulls to flip $112,000 to support for more upside. Analysts and traders are closely watching key levels and indicators for Bitcoin’s price action. Remember, all investment and trading moves carry risks.

Read more at Cointelegraph: Will Bitcoin’s Latest Sunday Pump be Different This Time?