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The latest Chicago Mercantile Exchange ( CME ) Bitcoin futures chart shows that a new price gap has appeared in this round of fall. The upper edge of this small-level gap is around $103,300, which may become an important resistance level for the current rebound market, and is worth investors' close follow.
Meanwhile, we still maintain our previous view: the large gap around $92,000 below still needs to be filled. The market may first attempt to fill the newly formed gap above, and then turn to fill the long-standing gap below. Considering that the gap below has existed for quite a long time, the market does not seem eager to fill it immediately.
From a technical analysis perspective, price gaps are often viewed as important support or resistance positions. The current market structure indicates that Bitcoin may encounter resistance around $103,300, which could lead to a short-term pullback or consolidation. However, if this level is broken, it may trigger stronger upward momentum.
On the other hand, the gap around $92,000 represents a potential long-term target. The market tends to fill these gaps, but the timing may depend on broader market conditions and investor sentiment.
Investors and traders should consider these two key price levels when formulating strategies, and combine them with other technical indicators and fundamental factors to make decisions. It is important to note that the high volatility of the cryptocurrency market means that prices can change rapidly, so it is crucial to follow market dynamics in real time.