Bitcoin Bulls Eye $117,000, But CME Gap Closure Could Delay The Breakout
The recent technical picture for Bitcoin presents a tug-of-war between short-term momentum and macro necessity. While the bulls are aggressively defending support and pushing toward the $117,000 resistance area, the yet-to-be-filled CME gap hangs over the market. This historical pattern suggests that although the price action is bullish, a mandatory downside move may be required to reset the chart before the target can truly be breached. Gap-Filling Before The Next Big Rally Ezy Bitcoin, in a recent short-term market outlook shared on X, explained that Bitcoin may need to close an existing....
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The Bitcoin price action was marked by ups and downs in the just concluded week, serving as a reminder of the volatile nature of the digital asset. According to price data, Bitcoin has just completed a retest of the downward sloping trendline that has limited its price rallies since March. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant—Is Hype Fading? As analyst EGRAG CRYPTO pointed out, the only thing left is for a complete body closure on the weekly timeframe. This closure will be pivotal in determining the next phase of Bitcoin’s price action,....
The bulls are gaining dominance in the market with Solana generating gains of 5.14% or currently at 0.001863 SOL/BTC. The SOL price is pulled mostly by the bulls with a slight tug coming from the bears. With these gripping forces, the SOL price is stuck. Currently, the bulls are relentlessly pushing the price closer to SOL’s resistance level. The bulls are putting in tremendous efforts to punch in a breach or else the bears will consolidate and ruin their efforts to register a breakout. With the low price, it’s now a huge wall to breach for the bulls waiting for that breakout. SOL....
Bitcoin price breakout to the upside after completing a corrective decline over the past few days. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Price Analysis. Time of analysis: 14h30 UTC. Bitfinex 1-Hour Chart. A price surge from $192 happened following a few days of corrective consolidation to below $200 and $1,200CNY. A narrowing MACD indicator was the clue to an imminent breakout and today, around 09h00 UTC buyers started piling into the uptrend. The first obstacle was $222, the level of a Fib fan level displayed in the charts here....
Ethereum briefly crossed over the $2,000-level, a benchmark target for many bulls as they await a breakout price rally in the world's second-largest cryptocurrency market.