- Traders anticipate Bitcoin revisiting this level as price action gravitates toward unfilled gaps.
- A price increase through this area would indicate traders are trying to fill the CME gap.
- The uptrend is suggested by RSI at 57.01 and MACD crossover though a powerful breakout has yet to occur.
Bitcoin traders and analysts are closely monitoring an unfilled (CME) gap near $86,781, a level that remains significant in the current market structure. Historically, CME gaps—price gaps left when Bitcoin futures trading halts for the weekend—have shown a tendency to get filled over time as market forces push the price back toward those levels.
These gaps often act as magnets for price action, with traders expecting Bitcoin to revisit those levels eventually. The chart suggests that Bitcoin has not yet returned to the $86,781 level, which was established as a gap when the price rapidly declined.
Bitcoin Targets $86,781 Gap Amid Volatility
The current Bitcoin price stands at $82,917.61 as it experiences gradual recovery from its recent market lows. The market exhibits high price volatility because resistance lies between $83,000-$84,000 and support exists at $78,000-$80,000.
Source: Coinmarketcap
A significant psychological barrier exists at $86,781 so rising demand could cause Bitcoin to attempt filling this price gap in upcoming days. If downward pressure continues, Bitcoin may struggle to break above current resistance, leading to potential consolidation or further declines before any attempt to fill the gap.
Bitcoin Technical IndicatorsShows Moderate Bullish Momentum
The Bitcoin RSI is trading at 57.01 suggests that Bitcoin is in a neutral to slightly bullish zone, as it remains below the overbought threshold of 70. If the RSI moves closer to 70, it may indicate overbought conditions, potentially leading to a short-term correction.
Source: TradingView
Moreover, the MACD line stands at 362 while the signal line sits at 333 and both indicators show a positive momentum trend with the histogram reading showing a positive trend.
The MACD indicator recently crossed above its signal line thus showing signs of an upcoming upward trend. Overall, Bitcoin’s price action appears to be consolidating with moderate bullish momentum, but without a strong breakout signal yet.
