Bitcoin (BTC) has recently demonstrated significant price volatility after testing and failing to sustain levels well above the 2021 all-time high (ATH) zone, approximately $69,000. Following a strong surge, the cryptocurrency met heavy resistance, indicating that market participants are consolidating and testing established levels before a definitive move into new price discovery territory. This rejection underscores the importance of the $69,000 level as a key battleground between bulls and bears.
Amidst this short-term resistance, technical analysts are increasingly focused on the potential for a substantial upside move driven by market mechanics. Specifically, a large and notable futures gap, or CME gap, is situated near the $84,000 price point. CME gaps often act as powerful magnets for price action, as historical data shows a high propensity for Bitcoin to return and fill these imbalances.
According to leading crypto strategists, the move to close the $84,000 gap is not a matter of ‘if,’ but ‘when,’ with strong predictions suggesting this target will be met ‘very soon.’ This bullish anticipation provides a floor against severe downside movement, positioning the recent rejection as merely a temporary consolidation period necessary for accumulating liquidity. If BTC can successfully re-establish $69,000 as firm support, the path toward the $84,000 futures gap is expected to be swift and decisive.
Source: Bitcoin to fill $84K futures gap ‘very soon’ as BTC rejects above 2021 top
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