Bitcoin Price Could Hit A Small Roadblock To ATH As CME Gap Threatens Crash

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The Bitcoin price has regained momentum, rising toward the $120,000 levelafter experiencing a short-lived pullback earlier this week. However, recent technical analysis warns that an unfilled Chicago Mercantile Exchange (CME) gapnear $116,500 may act as a barrier, potentially creating the risk of a price crash as BTC makes its way toward a fresh all-time high.  Bitcoin To Face Short-Term Crash With CME Gap

A new Bitcoin price analysis by crypto market expert Ted Pillows suggests that BTC could encounter another major hurdleon its path to a record high. His analysis, shared on X social media, points to conditions in cryptocurrency’s current market structure that may trigger a temporary correction.  Related Reading Bitcoin Risks Another Crash Following Recovering Into Bearish FVG Zone 5 days ago

Notably, Pillows reportedthat Bitcoin recently reclaimed and even surpassed the $118,000 level after a volatile week that saw the asset shed $2,000 to fill a CME gap from last week. The analyst’s chart highlights this gap in Bitcoin’s price action on the CME futures market around $116,500. Historically, such gaps tend to be “filled” as price retraces to trade within the missing range, making them critical areas of interest for traders.  Source: Ted Pillows on X

Pillows has stated that the unfilled CME gap near $116,500 will likely be revisited soon. This week’s market action already saw BTC drop sharply to close last week’s gap before rebounding, suggesting that the same pattern could play out again. If the $116,500 CME gap is filled, it could momentarily disrupt Bitcoin’s ascent, triggering a potential crash in its price. 

Although this scenario appears bearish, the analyst reassures that any pullback is expected to be temporary. Pillows anticipates that a brief correction could lay the groundwork for a fresh leg upward. Technical patterns also indicate that once Bitcoin begins this upward push, it could rise toward uncharted territory and establish a new all-time high.  Other Analysts Share Their Take On Bitcoin CME Gap

Further discussing the Bitcoin CME gap, market analyst ‘Daan Crypto Trades’ on X pointed outthe recently formed gap that opened this week. According to the analyst, the gap lies between $116,500 and $118,400, standing out not only for its size but its proximity to Bitcoin’s previous ATH range. Related Reading Bitcoin Price Could Hit A Small Roadblock To ATH As CME Gap Threatens Crash 6 hours ago

Daan Crypto Trades noted that most CME gaps tend to closewithin the same day; however, this latest gap has extended farther than usual. He explained that the gap near Bitcoin’s record high creates the ideal conditions for a price discovery. In such scenarios, CME gaps often stay open for longer periods, as bullish momentum can drive prices upward without retracement. 

Notably, the expert’s chart analysis indicates that Bitcoin’s latest CME gap is unlikely to close until its price comes within 1% or 2% of it, placing that level just under $120,000. At present, BTC is trading at $121,313.  BTC trading at $121,121 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com