Bitcoin appears to be entering the new week under ongoing pressure, especially on the short-term and long-term charts. If the price continues to trade below a falling resistance line, it indicates that technical pressure is continuing. While analysts focus on the new CME gap above the current level, the main question for investors is whether Bitcoin can recover or remain in the shadow of critical resistances.
Technical outlook: Downtrend and past cycles
Ted Pillows, one of the important analysts followed in the cryptocurrency market, argues that Bitcoin is still in a downward trend and points out that the last upward movement may be a bull trap. The chart shared by Pillows shows that although weakness continues in the short term, the price repeats a structure seen in past market cycles. After peaking each cycle, Bitcoin breaks below a falling trend line; It then breaks this line, retests an important level and initiates an upward move. The circles marked on the chart also indicate these retested levels.
On the other hand, the last episode keeps the negative expectations in the market alive. The price cannot break above the resistance line on the right side of the chart. Unless an upward break of this structure occurs, the short-term bearish scenario remains technically valid.
It is observed in the chart that the short-term recovery remains weak and the price is still moving under the pressure of the falling trend.
Looking at the overall outlook, the current technical structure points to a correction in the long-term uptrend rather than a definitive trend reversal.
New CME gap and volatility expectation
Daan Crypto Trades, one of the experts closely followed in the crypto market, draws attention to a new “gap” in CME futures following the movements over the weekend. It is stated that CME Bitcoin futures contracts have reopened for trading at approximately $74,400, well below Friday’s close. This open created an untraded area between $74,900 and $77,500, creating a new technical gap in the market.
Such CME gaps are known to become critical reference points for investors in the short term. These zones, closely watched by market players, can create a magnet effect in price movement. Prices are currently trading well below the gap, underlining the weak recovery in the market. If activity increases, investors will watch to see if the price approaches this gap region. Conversely, the lower opening level has the potential to set the tone for the market in the short term.
Macro pressures and weekly agenda
Bitcoin enters the week under the influence of macro pressures shaped by the volatility in global markets and the rise in commodity prices. In addition to the imbalance in the futures market, investors’ attention will be on both technical indicators and current developments. Volatility is expected to increase and critical resistance-pressure areas will be tested in the coming days.
