Bitcoin value bridges CME futures gap, yet predictions suggest $25K could be on the horizon

Bitcoin value bridges CME futures gap, yet predictions suggest $25K could be on the horizon

Lia Jonon
Lia Jonon
Bitcoin’s price risks more downside, with $28,000 now a key level to hold in order to avoid a return to the mid-$20,000s.Bitcoin’s price risksBitcoin reached fresh intraday lows on April 21, with market participants cautioning that a decline to $25,000 could be imminent.$25,000 BTC price

Trader: $25,000 BTC price would be “absolutely fine”

Information from Cointelegraph Markets Pro and TradingView revealed BTC/USD having difficulty maintaining $28,000 as a support level on Bitstamp.One analyst described the pair as "feeble," since overnight occurrences did not revive any indications of its former upward trajectory.michael van de poppeAs Bitcoin experienced local lows of $27,828, predictions now centered on a possible revisit to the vicinity of a crucial trend line.
"Bitcoin is testing our key local demand at 28k and not getting the best reaction. If this level is lost, 25-26k is likely to be tested, but this is not a cause for worry," Credible Crypto explained in a YouTube video.
The video went on to characterize a drop to $25,000 as "completely acceptable" and merely indicative of "a slightly deeper pullback" rather than a substantial shift in the prevailing trend.The zone around $25,500 represented Bitcoin's 200-week moving average — a support level that was initially breached in 2022 and only regained in the past few weeks.BTC 1-week candleBTC/USD 1-week candle chart (Bitstamp) with 200MA. Source: TradingViewCrypto Tony, with a somewhat more positive outlook, considered the possibility of a long position for the day.
  "Approaching a high volume node + the EQ of this range. I'm looking to play a long scalp here once I see the bulls stepping in,"
he shared with his Twitter followers.
 “Another play if the bears take over, is to short a loss of the range down to the range low at $26,600.”
BTC USD annotated chartBTC/USD annotated chart. Source: Crypto Tony/Twitter

One gap filled, are there more to follow?

Meanwhile, the rebound to $28,000 "entirely" closed a gap in CME Group's Bitcoin futures.This gap emerged earlier in April when Bitcoin soared to local highs above $31,000. Market insight analyst Mickybull Crypto anticipated a return to "fill" the gap.Mickybull TwitterCME Bitcoin futures annotated chart. Source: Mickybull/TwitterIn his related Twitter commentary, Mickybull Crypto also conceded that "every" gap, even one significantly lower on the chart near $20,000, should eventually be filled as well.Twitter commentary
  “Price is currently sitting on TL support. If it loses 28000$, higher chances that we test 25500 - 26000$ and continue upward,” he tweeted as part of an additional analysis on the day.
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