---
Will $BTC Correct Before Breaking $96K? CME Gap Still Unfilled...
#Bitcoin is still moving within the upper range of the strong resistance zone ($88,500–$95,000). This kind of movement doesn’t seem strong enough to break through this key area just yet, so I’m still anticipating a pullback.
The recent price rebound lacks strong volume, and we’re also seeing signs of a Regular Bearish Divergence (RD-), which further supports the potential for a correction.
From an Elliott Wave perspective, Bitcoin appears to have completed its 5-wave impulse structure. This suggests we may now be heading into a corrective phase. There’s also the chance that Wave 4 could be forming an Expanding Flat (ABC/3-3-5) — either way, both scenarios point to a possible downward move.
I don’t believe Bitcoin will be able to break above the resistance zone ($88,500–$95,000) until the CME gap between $92,525 and $91,415 is filled.
Here are the current liquidation levels to keep in mind:
Cumulative Short Liquidations: $96,000–$95,095
Cumulative Long Liquidations: $93,350–$92,551
More Long Liquidations: $90,276–$89,160
Note: If Bitcoin manages to break above $96,100, we could see further upside momentum.
Let’s respect each other’s viewpoints — feel free to share your analysis politely, whether you agree or disagree.
This is just my personal analysis of $BTC/USDT on the 1-hour chart. Be sure to stay updated and always use a Stop Loss for every trade. Stick to your strategy and I look forward to seeing your thoughts as well.
---