The Bitcoin market currently exhibits a remarkable technical formation – a CME gap in the price range of $104,000 to $105,000. This price gap occurred because the Chicago Mercantile Exchange (CME) futures market started trading this week at a different level than the spot price ended on the weekend. A typical scenario often triggered by trading activities in the physical Bitcoin market over the weekend.
Why should traders keep an eye on this CME gap? Market observers speak of a “magnet effect” – such unfilled gaps often act as natural attractors for the price. This means: Bitcoin could move back to this level in the coming weeks or months to close the gap.
From a technical perspective, this is more than just a game. For active traders, this zone represents an important resistance or support level, depending on how the price moves. The Chicago Mercantile Exchange futures influence the entire institutional market and often set the direction for the spot market. This CME gap between 104K and 105K should not be ignored – it remains a potential turning point in Bitcoin’s price structure.
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CME Gap in Bitcoin: Magnet Level between $104K and $105K
The Bitcoin market currently exhibits a remarkable technical formation – a CME gap in the price range of $104,000 to $105,000. This price gap occurred because the Chicago Mercantile Exchange (CME) futures market started trading this week at a different level than the spot price ended on the weekend. A typical scenario often triggered by trading activities in the physical Bitcoin market over the weekend.
Why should traders keep an eye on this CME gap? Market observers speak of a “magnet effect” – such unfilled gaps often act as natural attractors for the price. This means: Bitcoin could move back to this level in the coming weeks or months to close the gap.
From a technical perspective, this is more than just a game. For active traders, this zone represents an important resistance or support level, depending on how the price moves. The Chicago Mercantile Exchange futures influence the entire institutional market and often set the direction for the spot market. This CME gap between 104K and 105K should not be ignored – it remains a potential turning point in Bitcoin’s price structure.