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Bitcoin began the new week with a substantial bullish surge, reaching an intraday high of around $28,447. Furthermore, a significant CME gap of over $1000 was observed at the start of the day, raising concerns about a potential short-term pullback. Presently, the bulls have taken a more passive stance, making it difficult to sustain a bullish trend for the rest of the day. However, bullish factors could still influence the monthly close.
During the early Asian trading hours, the price of BTC soared beyond $28,400. However, it subsequently experienced a decline due to bearish market activity. One important factor that could have contributed to this pullback is the existence of a CME gap between $26,970 and $27,915. In recent weeks, the price has consistently filled these gaps, leading to significant downward movements. As a result, it is highly likely that an interim pullback is imminent.
During the early Asian trading hours, the price of BTC soared beyond $28,400. However, it subsequently experienced a decline due to bearish market activity. One important factor that could have contributed to this pullback is the existence of a CME gap between $26,970 and $27,915. In recent weeks, the price has consistently filled these gaps, leading to significant downward movements. As a result, it is highly likely that an interim pullback is imminent.
