- Bitcoin hovers mid-range as CME futures act like a magnet, guiding short-term price moves and trader decisions.
- Analyst Killa sees a potential 2022-like setup, targeting $50–60K for swing shorts while monitoring near-term $95–96K push.
- EliZ highlights three critical zones; a break below support could trigger bearish scenarios, while holding ensures orderly trading.
Bitcoin faced a quiet weekend, leaving traders cautious as the market lacks short-term momentum. According to Daan Crypto Trades, the main levels to watch are the Monthly Low near $84K and Monthly High around $94K. Currently, Bitcoin hovers in the middle of this range, moving sideways without showing strong direction.
The CME futures market appears to play a crucial role, with the price repeatedly gravitating toward the CME open and close. This “CME magnet” effect highlights how futures trading continues to influence short-term spot movements. Hence, traders are waiting for clearer signals before committing to positions.
Besides the CME influence, analyst Killa notes a potential setup similar to 2022, which could lead to another leg lower. Killa is targeting the $50–60K range for swing shorts initiated at $123K. However, in the near term, he anticipates a possible push to $95–96K, aligning with potential rate cuts.
Consequently, traders should watch Killa’s 10–14th pivots to assess whether the market follows this fractal. If it deviates, he plans to re-evaluate and adjust positions based on market structure.
Consolidation and Key Zones to Watch
EliZ adds that Mondays often require caution, emphasizing the “Monday Range” as a tool to prevent premature trading decisions. He points to three critical zones on the chart. The grey area on the 4-hour timeframe acts as a checkpoint; a decisive break here could trigger a squeeze toward the upper red zone, where true resistance lies.
Meanwhile, the green box represents a structural support zone. EliZ explains that as long as the market holds this level, trading remains orderly. However, a breakdown below it could pave the way for deeper bearish scenarios. Moreover, these zones help traders distinguish significant moves from minor market noise.
Additionally, the current range-bound behavior shows that Bitcoin traders remain hesitant, focusing on technical markers and broader macro conditions. The sideways fluctuation around CME levels emphasizes how important it is to keep a close eye on resistance and support.
Therefore, the next significant trend for Bitcoin may be defined by a distinct breakout or breakdown. In anticipation of decisive market action, analysts recommend patience and careful risk management.
