Bitcoin Nears CME Gap as Monthly Candle Closure Looms
The Asian session triggered a Bitcoin sell-off, pulling the price closer to the CME gap. Ideally, a further dip would completely fill this gap, eliminating it as a potential risk factor for future price action. A definitive closure would allow the market to move forward with stronger technical stability.
🔹 Critical Market Moment: With today marking the monthly candle close, market sentiment is in flux. It’s crucial to wait for this closure before making any firm conclusions, as the final trading day often presents unreliable signals. The real analysis will come tomorrow when the dust settles.
🔹 Potential Price Targets: Given the current momentum, Bitcoin could extend its decline toward $74K, particularly if broader market indicators, like the S&P 500 (SPX), continue showing weakness. However, in the larger bullish Q4 outlook, this pullback might be the last significant retracement before the next leg up.
📊 Bitcoin Liquidation Heatmap:
💥 Key Resistance Levels: 80,709 / 81,591 / 83,266 / 84,942
💧 Major Support Zones: 78,416 / 76,830 / 75,070 / 73,850
📌 Final Takeaway: Bitcoin is moving in alignment with technical expectations, and short-term volatility should not overshadow the broader bullish market structure. Patience and strategic planning will be key as we navigate the upcoming price action.
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