Price Analysis View Non-AMP

After a Slight Pullback, Bitcoin Price is Ready for a Bounce-Here’s Where it May Lead!

Published by
Sahana Vibhute

The past weekend was pretty bearish for the Bitcoin price rally as the token plunged below $94,000 after recording a bearish weekend. The rise to the local high of $97,895 attracted significant bearish attention, but the volume remains restricted within a range. This suggests the bulls remain passive but are offering enough support at $94,000 that may uplift the tokens within the bullish range in a short while from now. 

Breaking the $95,000 support range was assumed to drag the BTC price to $92,000, but the ongoing price action suggests massive strength of the bulls. Hence, a rebound seems inevitable!

The Bitcoin price is known to fill the CME gaps, which have been formed around the current price levels. The lower gaps usually trigger a strong pullback, while the gaps at the upper levels push the token higher. However, the price faces a reversal after filling the gaps. The current trade set-up shows a gap on either side of the price, keeping the upcoming price action in an ambiguous state. 

Currently, two gaps have been formed close to the current price, one between $96,400 & $97,600 and the other between $92,500 & $91,700. If the bullish trend is in place, the BTC price may focus on filling in the lower gap first, which may be accompanied by a massive bullish rebound. This suggests the price could be primed to drop below $92,000, which could be the local bottom of the persisting pullback. 

Meanwhile, a volatile week ahead with FOMC and Coinbase earnings scheduled later this week. Therefore, if the price triggers a long trade, it may reach the local highs at $98,000, where we can see some LTF liquidations after a reclaim of the previous range highs. However, the BTC OBV daily trend remains bullish. Therefore, as long as this remains the case, the pullback may not be too deep. 

Hence, it would be interesting to watch which CME gap the Bitcoin price chooses to close first, as the price action that follows may be dependent on this. 

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Recent Posts

SOL Strategies Files Preliminary Base Shelf Prospectus to Raise $1B to Buy Solana

SOL Strategies Inc. (CSE: HODL), a Vancouver-based company focused on the growth and development of…

May 28, 2025

Sui (SUI) Whales Spark Sell-Off, While Ruvi AI (RUVI) Attracts Growing Investor Interest

Recent whale activity in Sui (SUI) has sent ripples through the cryptocurrency market. Large-scale sell-offs…

May 27, 2025

3 High-Value Tokens Not to Miss in Q2 as Altseason Approaches: Shiba Inu, Solana and Unilabs

Bitcoin (BTC) might be running the show after recording ATHs in May, but a decline…

May 27, 2025

Unilabs’ 30% Bonus Attracts Ethereum and Binance Coin Holders

The Binance Coin price is still holding above $600, a sign of strong investor confidence…

May 27, 2025

Crypto Regulations in El-Salvador 2025 : First Country to Use Bitcoin as Legal Tender

El Salvador made history in 2021 as the first nation to adopt Bitcoin as legal…

May 27, 2025

Why This $0.03 DeFi Altcoin Could be Trading at $5 Before Cardano (ADA)

Mutuum Finance (MUTM) is capturing attention as a standout altcoin in the bustling crypto market.…

May 27, 2025