The latest technical analysis for Bitcoin reveals a conflict between short-term momentum and broader market conditions. Bulls are steadfastly defending support and striving to reach the $117,000 resistance level, while the unresolved CME gap looms over the market. Historically, this pattern indicates that, despite bullish price action, a necessary downward adjustment may be needed to reset the chart before achieving the target.
Gap Closure Preceding the Next Major Rally
Ezy Bitcoin recently discussed the short-term market outlook on X, suggesting that Bitcoin likely needs to close an existing gap to generate momentum for its next significant rally. However, this movement should be regarded as a positive reset rather than a weakness, potentially paving the way for a robust upward movement.
He pointed to the Bitcoin CME Futures chart, where the CrossX indicator highlights unfilled gaps that typically act like price magnets. Historically, Bitcoin has shown a propensity to revisit these zones before continuing its ascent, making them crucial to the immediate market structure.
Over the past five months, Ezy Bitcoin has recorded that every single gap has been closed, maintaining a perfect 100% success rate. This consistency enhances the probability of a short-term retracement before another rally commences, reinforcing his belief in the pattern’s reliability.
Given this perspective, he concluded that a slight pullback could present an excellent opportunity to acquire more Bitcoin. Instead of fearing a dip, traders and investors may see it as a chance to enter before the next significant upward movement.
Bitcoin Bulls Focus on Recovery Momentum Amid Market Pressure
According to the latest update from Crypto VIP Signal, Bitcoin made a swift recovery following a sharp decrease. The price dipped briefly below the $113,000 level but quickly rebounded. This rapid recovery from that point indicates that buyers remain active and ready to engage at critical levels, preventing any deeper corrections for the time being.
Currently, the price is trending upward again, and the immediate hurdle is defined by a narrow resistance zone between $114,600 and $114,800. This range serves as a local ceiling where selling pressure is expected to be concentrated. Surpassing this level is essential for the continuation of the bullish trajectory.
Looking ahead, Crypto VIP Signal highlighted that successfully breaking above the $114,600–$114,800 resistance will clear the way to significantly higher targets in the $116,000 to $117,000 range. Entering this area would solidify the positive momentum and confirm that the recent dip was merely a brief shakeout, allowing the rally to proceed.
