I’ve experienced the price of bitcoin The weekend is lateas traders close their positions and volume drained, they go back towards the $95,000 mark. However, Crypto analysts are now attention As the Chicago Mercantile Exchange (CME) is preparing to open again, the potential upward movement reveals a notable gap that acts as a short-term magnet in price action.
New CME gaps that will cause a surge in Bitcoin prices
As CME Bitcoin Futures Market The doors closed at the $97,022 level on Friday, and Bitcoin continued trading on platforms such as Binance, slowly breaking down throughout the weekend. This inconsistency created what traders call CME Gap.
Historically, these gaps have shown a trend to fill within one to three days of CME reopening, with prices often returning to gap levels, according to Daan Crypto Trades, analyst at X (formerly Twitter). The current setup shows that if Bitcoin continues hovering near $95,400 as CME reopens, the market will soon be able to see an upward movement to fill the $1,600 gap.
This pattern is supported by a Descending trendline Analyst sharing charts show a sustained bearish momentum over the weekend. Nevertheless, the presence of a CME gap above the trendline and such a level of magneticity could encourage bulls to intervene.
This analysis expands with more recent ones x posting, Daan Crypto Trades highlighted two major untransparent gaps regarding Bitcoin CME futures that could affect BTC Short-term price direction. The first is the aforementioned new CME gap that appeared over the weekend for $97,000. but, BTC price outlook It’s even more complicated by the old, yet-unreclaimed CME gap between $91,000 and $92,000, dating back another two weeks ago.
Bitcoin has never revisited this old gap, so analysts suggest that it may still have an impact Downward pressure on price Before meaningful recovery to fill the gap of 97,000 cm. Currently hovering around $94,248, Bitcoin finds itself stuck between these two untransparent gaps, creating a zone of uncertainty that is important in defining its short-term trajectory.
Analysts confirm that the CME gap ends at $97,000
Another post has Daan Crypto traded It was revealed That bitcoin is currently navigating a Tight Integrated Zone It turns out to be caught between substantial price levels, including daily, weekly, monthly and annual openings. These levels are historically important BTC price actionoften serves as a natural support zone and resistance zone, becoming the important area of the next important movement.
Bitcoin’s next big move could start once it breaks out of this tight range. If cryptocurrency is overcoming daily openings and previous highs, you can push towards $97,000 and close the CME gaps out there. Meanwhile, if prices fall below the annual opening, that will be reflected Bearish momentum, This could trigger a drop from $91,000 to $90,000.
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