Bitcoin ‘double bottom’ eyes $110K, but CME gap may postpone rally

💡 DMK Insight

Bitcoin’s push toward $110,000 is exciting, but traders need to tread carefully right now. The recent bullish breakout is impressive, yet the accumulation of stablecoins suggests that many are waiting for a pullback before re-entering the market. This could indicate that while optimism is high, there’s also a significant amount of caution among investors. Additionally, the presence of CME gaps could lead to volatility as traders look to fill those gaps, which might create opportunities for short-term plays. If Bitcoin approaches $110,000, watch for resistance around that level; a failure to break through could trigger profit-taking and a potential dip. On the flip side, if Bitcoin manages to sustain momentum past $110,000, it could attract more institutional interest, further driving prices up. Keep an eye on trading volumes and sentiment indicators to gauge whether this bullish trend has legs or if it’s just a short-lived spike. Watch for key levels around $100,000 and $110,000, as they will be critical in determining the next move.