Bitcoin Urgent update 🛑🚦
Bitcoin is currently showing a bearish divergence on the one-day timeframe, which may concern some investors. However, there's no immediate cause for alarm. The deadline for the Bitcoin Spot ETF is approaching, and this doesn't seem to have sparked a sell-off. The market sentiment remains stable for now.
There's a noted #CME gap in Bitcoin's price between $40,350 and $39,400. Historically, 90% of the time these gaps are filled within a week, suggesting a potential move.
For those looking to enter a long position in Bitcoin, there are two key levels to consider:
1. If Bitcoin can sweep past $41,113 and then reclaim this level, it could signal a good entry point for a long position.
2. Alternatively, if Bitcoin fails to hold above $41,113, it could drop to fill the CME gap, presenting another potential entry point around $39,800.
The $39,800 level is also a strong support area for Bitcoin, reinforced by an order block in the market, which could provide a foundation for price stability and a potential reversal point.
What do you think about it guys?
