🔹 CME Gap Analysis on Bitcoin (BTC)
📉 After the recent rise, Bitcoin entered a corrective movement. The focus is now on the unfilled CME futures gap between $113,600 – $117,200, which is considered a pivotal area.
⚡️ Importance of this area:
Historically, CME gaps tend to close a significant percentage of the time.
The current area could be a turning point: either a bullish rebound or a continuation of the correction.
📊 Important levels around the gap:
First support: $113,600 – $117,200 (gap area).
Second support: $109,000 – $110,500 (in case of a downward break of the gap).
Nearby resistance: $121,000 – $123,500.
Major resistance: $128,000 – $130,000 (staying above it restores the bullish momentum).
📌 Possible scenarios:
1. ✅ Bullish rebound: If the gap area holds, we may see a retest of the mentioned resistances, especially $123,500 then $130,000.
2. ❌ Downward break: If the daily close is below $113,600, the correction may extend towards $110,500 and possibly lower.
👀 Summary: The current area is key to the upcoming direction; its rebound means continuation of the bullish path, while a break below may open the door for a deeper bearish wave.
