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- BITCOIN CME Gap at $77,850 first then $125,000 next? | Point of Interest | ATH in May?
BITCOIN CME Gap at $77,850 first then $125,000 next? | Point of Interest | ATH in May?
The $73,843 region holds strong technical confluence, including the 0.618 Fibonacci retracement, Value Area High, VWAP SR, and the open CME futures gap
Bitcoin Insider
February 26, 2025 • Estimated Reading Time: 3 minutes
Today’s report will include:
BITCOIN Technical Analysis
Market Psychology
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BITCOIN SWING LONG
Bitcoin has seen eventful price action over the past 24 hours, continuing its acceleration toward the channel low support discussed in previous updates. A deeper technical analysis reveals additional confluences in this region, including a notable open CME futures gap that has yet to be filled. Statistically, CME futures gaps have a 90% probability of being filled, a pattern that can be validated by backtesting historical CME chart data on ticker BTC1!.
Key Points:
Bitcoin has closed a daily candle below the mid-range of its year-long trading channel, increasing the probability of a move toward the channel low support.
The $73,843 region holds strong technical confluence, including the 0.618 Fibonacci retracement, Value Area High, VWAP SR, and the open CME futures gap.
Maintaining support in this zone is crucial to preserving Bitcoin’s higher timeframe bullish structure, with a potential upside target of $125,000, the projected channel high.
Holding this region of support at $73,843 will be critical for the market structure on Bitcoin on the higher timeframe. There is a high probability of this area being respected due to the multiple technical confluences, including the 0.618 Fibonacci, Value Area High SR support, VWAP SR support, and the futures gap just mentioned previously. A bottoming formation will signify strength in the immediate short term once price tests this area. Continuation needs to be backed by increasing volume, confirming strength for a rotation back toward the channel high.
It is important to remain patient in these trading environments and not get caught up on the lower timeframe. Price has now expanded after multiple days of consolidation, meaning higher timeframes have taken control. Rather than chasing smaller moves that could result in getting chopped out, traders should focus on key untapped technical levels. Given Bitcoin’s expansion phase, it is highly probable that these levels will be tested before any significant short-term rotation takes place.
Hope this analysis helps.
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X Segment 📰 🗞️
In this bloodbath today, I see a lot of people referring to this tweet 👇😂
For context, the bitcoin price was $19,000 when this tweet was written 5 years ago.
Also, I had no visibility of the graph to the right of the cursor at the time. That was in the future.
Zoom out. 🙏
— CZ 🔶 BNB (@cz_binance)
5:03 PM • Feb 25, 2025
Psychology 🧠
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