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Bitcoin (BTC) is constantly approaching very anticipated Chicago Mercantile Exchange (CME) Close the gap and the price action is in accordance with the expectations of the analyst in the face of the transition in the direction of USD 83,000. When Bitcoins are corrected from the latest ups, a cryptographic analyst Expects it to be reflected. However, if the key support fails, the possibility of further decline remains.
Bitcoin to fall to CME Gap Close
Bitcoin was on the mountain queue this year, Truck to the up-to-date ATHS And experiencing stern price failures that pushed him to up-to-date low. Recently, the cryptocurrency recorded an augment in the direction of USD 89,000, but stood in the face of rejection. Now the best crypto goes back again, and the analyst Crypto Analyst Astronomer on X (previously Twitter) indication Low range 83,000 – USD 84,000 as another critical level of support.
This key support zone on the price chart is consistent with CME Gap Closea common phenomenon in BTC termination contracts market. BTC returns to the price gaps when the price of CME closes over the weekend and opens on Sundays.
The Astronomer outlined his long -term commercial plan for Bitcoin, expecting that the cryptocurrency consolidates around the level of support before reflection. Believes that closing the break of CME is a significant technical development that can determine Bitcoin price movements.
Supporting expectations Miniature -term withdrawalHistorically, bears on Friday often leads to red monastery or Tuesdays for Bitcoin. In addition, the analyst emphasizes that the market is still in the phase before the up-to-date York Open (NYO), leaving space for the endocrine reversal.
However, he expects a decrease in overdue night during the NYO trading session due to lack liquidation and unverified support levels. He also mentions that in combination with these factors, the recent withdrawal of Bitcoin from USD 89,000 is a forceful indication that its price may not be stubborn locally.
Based on him Bitcoin price chartThe astronomer considers the range of 81 400 USD-82 400 USD to be the worst support zone. Bitcoin is expected to visit this target zone again before any attempt at a potential reversal.
Can Bitcoin bounce back? Take the level of profits to watch
While Bitcoin is low -term The price of the price seems to be bearAccording to the astronomer analysis, his macro trend remains a bit stable. The analyst marked the “long entrance” zone on the chart, which suggests that zone 83,000 – USD 84,000 was potential Buying opportunities If Bitcoin finds support there.
The analyst predicts that if Bitcoin can successfully maintain CME closure, reflection towards a weekly open price of USD 86,000 may be the first step towards the long -awaited recovery. Besides, the analyst indicated the key Take the level of profit Marked with TP1 – TP4 on the price chart. These levels suggest that Bitcoin may augment to achieve the goal 87,000 – USD 88,000.
However, the break below the worst support zone can cause bear sentiment, potentially leading to deeper correction of bitcoin prices.
A distinguished picture from Gemini Imagen, chart from TradingView
