{"id":3753,"date":"2025-03-30T04:11:05","date_gmt":"2025-03-30T04:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-cme-gap-close-about-to-happen-with-push-toward-83000-what-happens-next\/"},"modified":"2025-03-30T04:11:05","modified_gmt":"2025-03-30T04:11:05","slug":"bitcoin-cme-gap-close-about-to-happen-with-push-toward-83000-what-happens-next","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-cme-gap-close-about-to-happen-with-push-toward-83000-what-happens-next\/","title":{"rendered":"Bitcoin CME Gap Close About To Happen With Push Toward $83,000 \u2013 What Happens Next?"},"content":{"rendered":"

Bitcoin (BTC) is steadily approaching the highly anticipated Chicago Mercantile Exchange (CME) <\/a>gap close, with price action aligning with analyst\u2019s expectations of a move toward $83,000. As Bitcoin corrects from recent highs, a crypto analyst expects a rebound to come next<\/a>. However, if key support fails, the possibility of further downside remains.\u00a0<\/p>\n

Bitcoin To Drop To CME Gap Close<\/b><\/h2>\n

Bitcoin has been on a rollercoaster this year, skyrocketing to new ATHs<\/a> and experiencing major price breakdowns that pushed it to new lows. Recently the cryptocurrency saw a surge toward $89,000 but faced a rejection. Now the top crypto is pulling back again, with crypto analyst Astronomer on X (formerly Twitter) pinpointing<\/a> the $83,000 – $84,000 low range as its next critical support level.\u00a0<\/p>\n

This crucial support zone in the price chart aligns with the CME gap close<\/a>, a common phenomenon in the BTC Futures market<\/a>. BTC revisits price gaps left when the CME price closes over the weekend and opens on Sundays.\u00a0\u00a0<\/p>\n

\"\"<\/p>\n

Astronomer has outlined his long-term trading plan for Bitcoin, expecting the cryptocurrency to consolidate around the support level before bouncing. He believes that the CME gap close is a significant technical development that could determine Bitcoin\u2019s price movements.\u00a0<\/p>\n

<\/p>\n

Supporting the expectations of a short-term pullback<\/a>, historically, a bearish close on Friday often leads to red Mondays or Tuesdays for Bitcoin. Moreover, the analyst highlights that the market is still in the pre-New York Open (NYO) phase, leaving room for an intraday reversal.\u00a0<\/p>\n

However, he anticipates a late-night drop during the NYO trading session due to the lack of liquidations<\/a> and untested support levels. He also mentions that combined with these factors, Bitcoin\u2019s recent pullback from $89,000 is a strong indication that its price may not be bullish locally.\u00a0<\/p>\n

Based on his Bitcoin price chart<\/a>, Astronomer considers the $81,400 – $82,400 range the worst-case support zone. Bitcoin is expected to revisit this target zone before any attempt at a potential reversal.\u00a0<\/p>\n

Can Bitcoin Rebound? Take Profit Levels To Watch\u00a0<\/b><\/h2>\n

While Bitcoin\u2019s short-term price action appears bearish<\/a>, its macro trend remains somewhat stable, according to Astronomer\u2019s analysis. The analyst has marked a \u201clong entry\u201d zone in the chart, suggesting that the $83,000 – $84,000 zone was a potential buying opportunity<\/a> if Bitcoin finds support there.\u00a0<\/p>\n

The analyst predicts that if Bitcoin can successfully hold the CME gap close, a bounce toward the weekly open price at $86,000 could be its first step toward a much-anticipated recovery. Beyond this, the analyst has pinpointed key take profit levels <\/a>marked from TP1 – TP4 on the price chart. These levels suggest that Bitcoin could surge higher to reach a target of $87,000 – $88,000.\u00a0<\/p>\n

However, a break below the worst-case support zone could trigger a bearish shift in sentiment, <\/a>potentially leading to a deeper price correction for Bitcoin.\u00a0<\/p>\n

Featured image from Gemini Imagen, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) is steadily approaching the highly anticipated Chicago Mercantile Exchange (CME) gap close, with price action aligning with analyst\u2019s expectations of a move toward $83,000. As Bitcoin corrects from recent highs, a crypto analyst expects a rebound to come next. However, if key support fails, the possibility of further downside remains.\u00a0 Bitcoin To Drop…<\/p>\n","protected":false},"author":1,"featured_media":3754,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[65,73,2078,2079,254],"class_list":["post-3753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-btc","tag-chicago-mercantile-exchange","tag-cme","tag-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3753"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3754"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}