- Bitcoin trades near $104K with potential to surge toward $140K before a 33% correction, aligning with Fibonacci extensions.
- EGRAG CRYPTO sees $91.9K CME gap unfilled but expects a rise to $130K–$140K first, echoing past patterns and market cycle behavior.
- Despite nearing Fibonacci resistance, Bitcoin could rally another 20% before a pullback, keeping $175K long-term target in play.
Bitcoin continues its recovery after the February 2025 crash, trading near $104,000. EGRAG CRYPTO’s latest analysis highlights a critical CME gap between $91,970 and $92,520. While the gap remains unfilled, the analyst believes Bitcoin could first surge toward $130K–$140K. This aligns with the 1.414 and 1.618 Fibonacci extensions, suggesting a potential market cycle top.
Source: EGRAG CRYPTO
However, EGRAG cautions against prematurely declaring the peak. According to him, most analysts may wrongly assume the cycle ends near $140K. He expects a possible 33% correction after this surge—mirroring the March 2025 dip—before Bitcoin resumes its upward momentum.
CME Gap and Fibonacci Zones
Currently, Bitcoin trades between major Fibonacci levels. It hovers near $104,425, just below the 0.888 Fibonacci zone at $105,380. Significantly, unfilled CME futures gaps above current price levels suggest potential for more upside. The prominent gap at $91,970–$92,520 stands out. However, historical patterns imply Bitcoin may first rise before closing it.
The CME outlines multiple price levels from October 2024 to September 2025. The December 2024 high reached $107,000 before a sharp February correction. Bitcoin dropped 32.51%, bottoming out near $74,500. This zone was later marked “CME-Filled,” showing a clear recovery base. Since then, Bitcoin has steadily climbed, forming a yellow curved pattern that indicates a gradual uptrend.
Outlook Toward Market Cycle Top
Moreover, the Fibonacci extensions at $122,330 (1.272) and $139,930 (1.618) act as resistance. EGRAG predicts a strong rally into this zone. He expects many analysts to declare a market top around $140K. However, he believes the actual cycle top might come later—after a pullback.
Additionally, the data displays red boxes highlighting past drawdowns. These include an 11.37% drop and a massive 33.74% decline. These historical retracements reinforce the likelihood of a future correction. Consequently, EGRAG’s outlook combines caution with bullish momentum. Bitcoin may still surge 20%+ before facing a pullback. However, long-term targets near $175K remain valid, provided historical patterns hold true.
