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Bitcoin (BTC) constantly approaches the long -awaited Chicago Mercantile Exchange (CME) Gap Close, with the action of prices in line with the expectations of the analyst of a transition to $ 83,000. While Bitcoin corrects from the recent maximums, a cryptocurrency analyst He expects a rebound to arrive later. However, if the key support fails, it remains the possibility of a further disadvantage.
Bitcoin to go down on CME Gap Close
Bitcoin was on a Russian mountain this year, Go up to the stars on new Aths And experimenting with important failures at the prices that pushed him to new minimums. Recently the cryptocurrency has seen an increase of $ 89,000 but faced a refusal. Now the upper cryptula is going back, with the astronomer of the cryptocurrency analyst on X (previously Twitter) Identification The low range of $ 83,000 – $ 84,000 as a next level of critical support.
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This crucial support area in the price graph is aligned CME GAP Closea common phenomenon in BTC Futures Market. BTC revisits the price gaps left when the price CME closes during the weekend and opens on Sunday.
The astronomer has outlined his long -term commercial plan for Bitcoin, expecting that the cryptocurrency is consolidated around the support level before rebounding. Believes that the closing of the GAP CME is a significant technical development that could determine Bitcoin’s prices movements.
Support the expectations of A short -term pulbackHistorically, a bearish closure on Friday often leads to Monday red or Tuesday for Bitcoin. In addition, the analyst highlights that the market is still in the Pre-New York Open (NYO) phase, leaving room for an intraday inversion.
However, anticipates a late night drop during the New York trading session due to the lack of liquidations and support levels not tested. He also declares that combined with these factors, the recent Bitcoin Pullback from $ 89,000 is a strong indication that its price may not be bullish at the local level.
Based on his Bitcoin price graphicsAstronomer considers the range of $ 81,400- $ 82,400 The worst support area. Bitcoin should revisit this target area before any attempt to potential reversal.
Can Bitcoin bounce? Take the profit levels to watch
While Bitcoin is short -term The action of the price appears bearishIts Macro tendency remains in some way stable, according to Astronomer’s analysis. The analyst marked an area of ”long item” in the graphic designer, suggesting that the area of $ 83,000 – $ 84,000 was a potential purchase opportunities If Bitcoin finds support there.
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The analyst provides that if Bitcoin is able to successfully retain the CME gap, a rebound towards the weekly open price at $ 86,000 could be his first step towards a highly anticipated recovery. In addition, the analyst identified the key Take the profit levels marked by TP1 – TP4 on the price graph. These levels suggest that Bitcoin could increase higher to achieve a $ 87,000 – $ 88,000 goal.
However, a break below the worst support area could trigger a Shift Bearish in feeling, Potentially leading to a deeper price correction for Bitcoin.
In the foreground of Gemini Imagen, TradingView chart