Bitcoin Bulls Eye $117,000, But CME Gap Closure Could Delay The Breakout

The recent technical picture for Bitcoin presents a tug-of-war between short-term momentum and macro necessity. While the bulls are aggressively defending support and pushing toward the $117,000 resistance area, the yet-to-be-filled CME gap hangs over the market. This historical pattern suggests that although the price action is bullish, a mandatory downside move may be required to reset the chart before the target can truly be breached.

Gap-Filling Before The Next Big Rally

Ezy Bitcoin, in a recent short-term market outlook shared on X, explained that Bitcoin may need to close an existing gap before it can build momentum for its next major rally. However, such a move should not be seen as a weakness but rather as a healthy reset, one that could set the stage for a stronger push upward.

He referenced the Bitcoin CME Futures chart, where the CrossX indicator highlights unfilled gaps that often act like magnets for price action. Historically, Bitcoin has shown a tendency to revisit these areas before resuming its climb, making them a key part of the near-term structure.

Over the last five months, Ezy Bitcoin has noted every single gap has been filled, while maintaining a flawless 100% success rate. This consistency adds weight to the likelihood of a short-term retracement before another rally begins, reinforcing his expectation that the pattern will hold.

With that in mind, he concluded that a minor pullback could create a valuable opportunity to accumulate more Bitcoin. Rather than fearing a dip, traders and investors might see it as an entry point before the next strong upward move.

Bitcoin Bulls Eye Recovery Momentum Despite Market Pressure

According to the latest update from Crypto VIP Signal, Bitcoin demonstrated a rapid recovery after experiencing a sharp drop. The price briefly fell below the $113,000 mark but quickly managed to bounce back. This swift bounce from this level signals that buyers remain active and willing to step in at key zones, preventing any deeper correction for now. 

Currently, the price is moving upward again, and the immediate challenge is defined by a narrow resistance zone between $114,600 and $114,800. This range is acting as a local ceiling where selling pressure is likely to be concentrated. Overcoming this level is crucial for the continuation of the bullish move.

Looking ahead, Crypto VIP Signal emphasized that a successful breakout above the $114,600–$114,800 resistance will open up the path to significantly higher targets between the $116,000 and $117,000 area. A move into this range would solidify the positive momentum and confirm that the recent drop was merely a brief shakeout, allowing the rally to continue.

[#item_full_content]NewsBTCRead More