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Bitcoin Targets Massive $86,781 CME Gap—Breakout Imminent?
As of March 12, 2025, the current market situation presents a crucial moment for Bitcoin (BTC) investors as the price approaches an unfilled CME gap at a massive $86,781. This significant gap was formed when the price rapidly declined and the futures trading halted over the weekend.
A crucial psychological barrier exists at $86,781, which could lead to a surge in demand and cause Bitcoin to attempt filling this price gap in the coming days. On the other hand, if downward pressure persists, it may struggle to break above current resistance, potentially leading to consolidation or further declines before attempting to fill the gap.
To better understand the sentiment surrounding this pivotal moment, we will examine key technical indicators.
The RSI (Relative Strength Index) currently stands at 57.01, indicating a neutral to slightly bullish zone as it remains below the overbought threshold of 70. A move closer to 70 could signal overbought conditions, potentially leading to a short-term correction.
Meanwhile, the MACD (Moving Average Convergence Divergence) line is situated at 362, while the signal line sits at 333, and both indicators show a positive momentum trend with the histogram reading displaying a positive trend. The recent crossover of the MACD line above its signal line serves as an indication that an upward trend may be on the horizon.
In conclusion, Bitcoin’s price action seems to be consolidating within moderate bullish momentum, but without yet exhibiting a strong breakout signal.
Source: https://cryptonewsland.com/bitcoin-targets-massive-86781-cme-gap-breakout-imminent/
