BTC to $170K: Key Levels to Watch, Including a Potential CME Gap at $78K

News, Trending

  • Bitcoin may climb to $170,000 after filling the $78,000 – $80,000 CME gap.
  • A $100,000 breakout could lead to a retracement and eventual massive rally.
  • Patterns resemble Bitcoin’s 2017 cycle, suggesting history may repeat with similar price moves.

Bitcoin (BTC) may be gearing up for an explosive move over the next 60 days. Traders are watching for a potential climb to $170,000, but the journey could take some detours. The roadmap suggests Bitcoin first pushes above $100,000, then retraces to the $78,000 – $80,000 CME gap. A similar sequence occurred during the 2017-2018 cycle, adding weight to these expectations. Let’s explore the critical levels that could shape Bitcoin’s next big move.

https://twitter.com/egragcrypto/status/1860644799516197045

Breaking $100,000 and Filling the CME Gap

The first step involves Bitcoin breaking past $100,000 and reaching $102,000 – $104,000. This milestone could spark excitement but may also trigger a correction. Many traders anticipate a pullback to fill the $78,000 – $80,000 CME gap. These gaps often act as magnets for price action, offering opportunities for re-entry.

Closing below $73,000 on larger time frames could accelerate a temporary bearish trend. A cascade of stop-loss orders might lead to heightened selling pressure. However, such moves often set the stage for a stronger recovery.

Retesting Support and Surging to $170K

After a retracement and support retest, Bitcoin could gear up for a powerful rally. A 150% move from the $78,000 range would bring the price to $170,000. This level represents more than just a technical target.

Reaching $170,000 would mark a psychological turning point, drawing renewed investor interest. Bitcoin’s current pattern resembles the 2017-2018 cycle, where a similar sequence played out. Traders should keep a close eye on these levels while remaining prepared for surprises.

The market’s next moves could redefine Bitcoin’s long-term trajectory. Will history repeat, or will new variables change the game? Time will reveal the answer.

The post BTC to $170K: Key Levels to Watch, Including a Potential CME Gap at $78K appeared first on Crypto News Land.

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