Bitcoin CME Gap Filled, Bullish Signs Point to Potential $72,000 Surge

Bitcoin CME Gap Filled, Bullish Signs Point to Potential $72,000 Surge

Jul 03 Tech Standard

Bitcoin (BTC) has been grabbing headlines lately with its attempt to close the CME (Chicago Mercantile Exchange) futures gap. This gap arises because the CME closes weekends, while Bitcoin trades nonstop. The result? Weekend price changes can create a gap between the CME's Friday closing and Sunday opening price.

This weekend's gap has now been filled, according to analysts like Titan of Crypto. This has sparked a flurry of price predictions, with some like Woo Minkyu of CryptoQuant expecting a return above $63,000 soon. Ali Martinez, another analyst, sees Bitcoin nearing a key resistance level at $65,795. If breached, he forecasts a surge to $78,700 based on technical indicators.

But there are cautious voices too. Michaël van de Poppe emphasizes a critical support level around $60,565, where he expects the price to stabilize before a potential rebound. Volume analysis suggests selling pressure on downticks and buying interest on upswings. The RSI also sits in neutral territory, hinting at a possible bounce off the support level.

Despite the bullish sentiment, Bitcoin's current price is $60,136.68, reflecting a slight dip in the last 24 hours. Whether the bulls are right and Bitcoin charges towards $72,000 or finds support at $60,565 remains to be seen.

HarshitKulhan

Crafting cinematic stories through the lens of my phone, I am a blogger and content writer who expresses the essence of my blogs through words

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