Bitcoin CME Gap Is Still Open, Why $78,000
The new Bitcoin Chicago Mercantile Exchange (CME) gap has just opened for $78,000 and $80,700. Analysts warn that this price range can be used as a magnet Bitcoin price drops furthermaking it a key area for viewing in the coming days.
According to X (formerly Twitter) crypto analyst Rekt Capital, Bitcoin is currently face As the fill key moves, the increased volatility increases CME Gap Between $78,000 and $80,700. The CME gap represents the price difference on the Bitcoin futures chart traded on the Chicago Mercantile Exchange.
Open Bitcoin CME gap signal drops further
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Bitcoin’s current CME gap is between $78,000 and $80,700, forming in early November 2024, when cryptocurrencies broke above resistance. Since then, Bitcoin has not revisited the area. However, Rekt Capital thinks it is approaching it quickly now.
Analysts revealed that Peaks reaching over $100,000Bitcoin quickly reviewed and underwent profound corrections that reduced it to its current price of $79,267. Rekt Capital notes Bitcoin’s recent decline coincides with historical fractals CME gap filling Before its price finds a new direction.
According to his chart analysis, if Bitcoin continues Current downward trackprice ranges from $78,000 to $80,000 and requires close monitoring. Keeping this range will indicate a potential reversal and new bullish momentum. However, support cannot be maintained Clearly further declinethe next major support level is about $71,535 and $60,590.
Other market analysts have similar views. Encrypted VIP signal on X projection With a $72,000-$74,000 support zone, Bitcoin cannot maintain CME GAP price levels. Analysts stress that this gap range is the last chance for BTC Price rebound As the market looks increasingly bearish.
BTC enters overselling for the first time since 2024
In addition to the recently opened CME gap, Bitcoin also Too many conditions This is the first time since August 2024. This suggests that the price of Bitcoin has dropped significantly, with trading volumes said to be below its actual value, which could indicate a possible rebound.
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This new finding is seen as a positive signal given the current decline in market conditions. Crypto analyst Ali Martinez reveal In 2024, this led to a 33% price increase. This means that if you want to repeat the historical trend, BTC can also be started Strong price rally rise.
Featured images from Adobe Stock, charts from TradingView.com
