Bitcoin Approaches $118K CME Gap: Could This Signal a Move Toward $150K?

Key Points

1. The CME Gap refers to the price difference when Bitcoin futures close over the weekend, and the $118K level is seen as a critical point for future price movements.

2. Bitcoin's price has shown strong growth, increasing by 105.79% between May and November 2023 and continuing upward in 2024.

3. Market sentiment remains bullish, with potential for further upward momentum if the $118K gap is filled, possibly leading to a $150K target.

4. Historical data shows that increased trade volume has coincided with Bitcoin's price expansion phases.

5. While the gap-fill could lead to a sustained upward trend, traders should remain vigilant as the situation develops.