The Bitcoin Price Gains Strength as CME Gap Avoided
The Bitcoin price is showing signs of strength as it managed to avoid the formation of a CME gap over the weekend. The price broke out on Friday and retested the downtrend line, preventing the gap from occurring. This suggests that the bulls are in control and could potentially push the BTC price towards $90,000. Technical indicators are also showing a bullish divergence, indicating further upward momentum. However, the price must rise above a crucial resistance level in the coming days to clear the path towards $100,000. Failure to do so could lead to a drop close to yearly lows.
Market Recovery and Tariff News
The markets began to recover after President Trump announced a halt on tariffs. Despite clarifying that no country would be exempt from tariffs, the news still had a positive impact on market sentiment. The Gold price, which was previously bullish, is now expected to come down substantially. This drop could push the Bitcoin price closer to $90,000 as panic and uncertainty decrease.
Bitcoin Strength Amid Mantra Collapse
Despite the collapse of Mantra, the BTC price has regained important levels and continues to show strength. This bodes well for the possibility of surpassing $100,000 in the near future.
Weekly Chart Signals Bullish Momentum
The weekly chart of Bitcoin is flashing a major bullish signal as the price has risen above the trend line that has held since September 2023. Selling pressure has decreased, potentially leading to a bullish crossover. The weekly RSI is in the average zone, and further upside momentum could push the BTC price towards the crucial resistance at $88,500.
Conclusion
The bullish momentum in the Bitcoin price rally is steadily increasing, with the potential for further gains in the near future. It will be interesting to see how the market unfolds in the coming days.