Bitcoin Nears Key CME Gap Support Around $115K Amid Low Volume and Potential Volatility
Main Idea
Bitcoin is consolidating near the CME gap support zone between $114,400 and $115,555, with low trading volume indicating potential for sharp volatility, while resistance at $120,000–$124,000 caps upside momentum.
Key Points
1. Bitcoin is holding the CME gap support zone between $114,400 and $115,555, which has flipped from resistance to support.
2. Low trading volume suggests cautious market participants and potential for significant price volatility.
3. Key resistance lies between $120,000 and $124,000, limiting upward momentum.
4. Unfilled CME gaps near $92,000, aligned with the 200-day EMA, are potential downside targets if current support fails.
5. Analysts remain bullish on Bitcoin's broader uptrend unless it decisively breaks below $92,000.
Description
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