BTCUSDT – Potential Reversal from CME Gap Support
Bitcoin is currently trading around a key demand zone aligned with a CME gap between ~$115,272 and $114,000. Price recently swept local lows with increased volatility and is showing signs of absorption just above the 0.382 Fibonacci retracement ($113,660), which adds confluence to the area.
If BTC continues to hold above this zone and shows volume confirmation, I expect a strong bullish reaction. This move could initiate a rally toward the previous high and potentially lead to a breakout to new all-time highs (ATH), as outlined in the red projected path.
Key levels- LQ, Fibbo 0.382, CME gap - futures
Bitcoin is currently trading around a key demand zone aligned with a CME gap between ~$115,272 and $114,000. Price recently swept local lows with increased volatility and is showing signs of absorption just above the 0.382 Fibonacci retracement ($113,660), which adds confluence to the area.
If BTC continues to hold above this zone and shows volume confirmation, I expect a strong bullish reaction. This move could initiate a rally toward the previous high and potentially lead to a breakout to new all-time highs (ATH), as outlined in the red projected path.
Key levels- LQ, Fibbo 0.382, CME gap - futures
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.