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Bitcoin CME Gap Between $59k – $63k

Written By: ChartChamp

August 6, 2024

Over the past few months we’ve discussed how $60k has held as a key support level. Bitcoin dropped below $60k in early July and is currently below $60k again in early August. Right now there is a CME gap between $59k and $63k, and these gaps almost always get filled. Bitcoin is likely to rebound back up to $60k price levels, but the key question is whether the $60k support level now acts as resistance on the way up. For now Bitcoin is still holding above the bull flag support despite the panic and selloff in the market.

Whales are buying Bitcoin while retail is selling.

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