The CME Gap and $114K:
For those who don't know, a CME gap is a price difference on the CME
#Bitcoin futures chart. This happens when
$BTC moves over the weekend while the futures market is closed. A lot of traders believe these gaps tend to "fill," meaning the price will eventually move back to cover that area.
The post is pointing out that BTC just tapped the gap around $114K. This is a classic technical analysis move, and it's something a lot of serious traders pay close attention to.
The Two Possible Scenarios:
The post lays out the two most likely scenarios, and they are both logical plays based on a technical breakdown:
* Reclaim $116K: This is the bullish case. If BTC can bounce back and close above the $116K mark, it would show a lot of strength and could signal that the correction is over. This would put a new all-time high back on the table.
* Stay Below $116K: This is the bearish case. If the price fails to reclaim that $116K level, it could mean more downside is coming. The post is suggesting the next key support level to watch is a lower FVG (Fair Value Gap) near $104K.
My Take:
This is a good wake-up call for anyone who got too bullish after the recent pump. The market loves to shake out over-leveraged positions, and filling a CME gap is a perfect reason for a quick correction.
Right now, the price action is critical. We're at a major decision point. Is this a healthy reset before the next leg up, or is it the start of a bigger pullback? Time will tell, but keeping an eye on those key levels ($116K and $104K) is the smart move right now. It's a great reminder to not get too complacent in this market.
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