Bitcoin Faces Resistance Near $116K Amid CME Gaps and Mixed Macro Signals, Potential Downside Toward $111K
Main Idea
Bitcoin is struggling to break above the $116,000 resistance level, facing potential downside risks toward $111,000 due to CME futures gaps, weak retail interest, and mixed macroeconomic signals.
Key Points
1. Bitcoin faces strong resistance near $116,000, a critical level for determining near-term market direction.
2. A new CME futures gap between $113,500 and $114,000 suggests potential short-term downside pressure.
3. Key support levels to watch are $114,305 (immediate support) and $111,390 (critical level), with a failure below these possibly leading to a drop toward $111,000.
4. Weak retail interest, as indicated by Google Trends, may limit Bitcoin's ability to sustain upward momentum.
5. Macro factors such as a weakening dollar index and potential September rate cuts add complexity to Bitcoin's price movement.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin is currently
Latest News
- Bitcoin Rally May Be Driven by Liquidity Shortage and Whale Accumulation, Analysts Suggest2025-08-05 15:38:27
- Ethereum’s OBV and Market Trends Suggest Possible Move Toward $4K Amid Rising Network Activity2025-08-05 15:32:40
- Cardano (ADA) Faces Market Equilibrium Amid Governance Advances, Potential for Upcoming Price Movement2025-08-05 15:28:32
- Bitcoin’s Role in Shifting Global Crypto Policies: Potential Paths for America and Sovereign Innovators2025-08-05 15:28:11
- SharpLink Gaming Increases Ethereum Holdings to Nearly $1.9 Billion Amid Market Rally2025-08-05 15:09:49