After a Pullback, Bitcoin Prepares for a Bounce—Will It Fill the CME Gap Up or Down?

Bitcoin (BTC) experienced a bearish weekend, dipping below $94,000 after reaching a local high of $97,895. Despite the drop, bulls appear to be offering strong support near $94K, suggesting a potential bounce may be underway.

The current setup remains ambiguous, with both bullish rebound and bearish continuation on the table. BTC’s tendency to fill CME gaps is now in focus, as price action hovers between two key levels: one gap between $96,400 and $97,600, and another between $91,700 and $92,500.

If the price dips to fill the lower gap first, analysts believe it may create a local bottom and spark a strong rebound. On the other hand, filling the upper gap could open the path toward reclaiming the $98,000 level.

With the FOMC meeting and Coinbase earnings report scheduled this week, volatility is expected. However, the BTC daily OBV remains bullish, hinting that any pullback may be shallow and temporary.

In short, Bitcoin’s next move could hinge on which CME gap it decides to fill first—an event that may set the tone for the coming weeks.