In the latest session, Bitcoin price traded near a major resistance band in the mid-$90,000s. The token traded around $95,000 at the time of writing as BTC traders watched an unfilled CME gap near $92,000.
Bitcoin Price Tested Key Futures Gap
The CME gap formed when BTC futures on the Chicago Mercantile Exchange reopened after a weekend. Traders often watched such gaps because price sometimes returned to that level to close the difference.
Independent analysts said the current gap near about $92,000 shaped short term expectations. Market watcher Ted, known on X as @TedPillows, said Bitcoin would likely visit that level before any stronger rebound.
Additional commentary came from trader Lennaert Snyder, who shared a chart highlighting the same imbalance zone and emphasizing how tightly the current structure sat between gap support and upper-range resistance.
Chart layouts that circulated among traders showed resistance building between roughly $99,000 and $111,000. For short term participants, the Bitcoin price now sat between that upper band and the futures gap below.
Some analysts described that range as the start of a deeper correction. Others saw it as a normal retracement inside a longer term advance. That setup placed short term traders in a tight band with clear invalidation levels.
Spot trading volume stayed active, and BTC held a market value above about $1.8 Trillion. Analysts said that backdrop still supported scenarios in which price revisited the $101,000 to $103,000 region after any test lower.
Beyond the futures gap, analysts watched a wider support band between roughly $88,000 and $90,000. For many, that zone served as the next destination if futures driven selling continued.
Bitcoin Price Approached Deeper Weekly Support
Weekly charts showed a rising trendline from mid 2024 that passed through that zone. Price had bounced near that line several times during the past year and set higher local peaks afterward.
Ted said that zone could form a local floor if a sharper pullback unfolded. In his view, the Bitcoin price could stabilize there before another test of the upper range.
Other analysts noted that a clean break below the band and trendline would weaken the bullish structure on weekly charts. They said such a move could shift focus toward older consolidation areas lower on the chart.
Institutional data added context to that technical picture. Daily filings from Bitcoin exchange traded fund issuers such as BlackRock, Fidelity, and Grayscale showed steady demand. Analysts said those flows continued to support long term participation, even during pullbacks.
The broader macro view also featured in discussions this week. Analyst Benjamin Cowen posted a comparative cycle chart on X, arguing that Bitcoin’s consolidation resembled prior late-cycle phases and could continue until either ETF outflows slow or volatility compresses.
What Could Shape the Next Move
On daily charts, BTC had already dipped under key summer lows before closing back above them.
Traders described that pattern as a sell side liquidity sweep. In that setup, price moved below earlier lows to trigger stop orders and then turned higher again.
After that sweep, the Bitcoin price closed back inside the earlier consolidation area.
The move also tagged a daily fair value gap. Traders used that term for zones where price had moved quickly and left thin trading activity.
They often watched how price behaved when it reentered those gaps after a correction. Because demand often appeared there later, some traders treated fair value gaps as potential support or resistance.
Recent candles showed long lower wicks with heavy volume, which signaled that buyers stepped in when price dipped. Traders also watched the Alligator indicator, a trend tool that used three smoothed moving averages.
They said those lines had started to move closer together after a period of wide separation. For those users, that shift often marked a transition from strong trends toward more neutral phases.
Taken together, these signals pointed to a market that still corrected rather than fully reversed. Some observers said the Bitcoin price now moved through a re accumulation phase, where larger traders built positions.
Others preferred to wait for confirmation from new highs or a clear loss of the key weekly trendline. Many desks also compared current structures with earlier cycles to judge how mature the advance looked.
In the near term, analysts watched whether the Bitcoin price would move toward the CME gap or back to resistance.
Key reference points included the futures gap around $92,000 and the weekly support near $88,000 to $90,000. On the upside, many charts still marked a target zone between about $101,000 and $103,000.