🚨 ALERT: The market seems to be targeting the CME gap; however, a sweep of the existing Fair Value Gaps (FVGs) is likely required first. That said, it has already absorbed millions in liquidation clusters, with liquidation now sitting around 74,500, which could lead the price towards that level.
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📊 A new CME gap has formed over the weekend between 79,590 and 84,350 and is currently acting as a resistance zone. If Bitcoin manages to fill this gap, it could potentially push the price back above the 84,000 level.
🚨UPDATE: As mentioned on Saturday, April 5th, the position became active and reached the initial target of 78,600. As noted in our update yesterday, the price has now reached the second target of 76,600 and is currently finding support at this level. If the 76,600 support is also breached, the next potential support levels are at 75,650, 73,200, and 70,640.
As mentioned on Saturday, April 5th, the pattern is active and has successfully reached the initial target of 78,600. If the support level at 78,600 is breached, the price may continue to decline toward the second target of 76,650.
BTCUSDT.PBTC1! Meanwhile bitcoin CME futures closed at 84350, meaning strong interest from institutions. Otherwise we would have been down to 60k already.
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