Bitcoin near $79K resistance: Will the $84K CME gap pull BTC higher?
The post Bitcoin near $79K resistance: Will the $84K CME gap pull BTC higher? appeared on BitcoinEthereumNews.com.
Bitcoin [BTC] faces one of its worst pullbacks at the end of January 2026, dropping. The price has fallen sharply since October 2026, completing a 40% drop from its ATH. After shaking off excess leverage in January, the market begins stabilizing in early February, offering optimism for a rally. Bitcoin’s aggregated Futures Open Interest fully reset, clearing out weak hands and setting the stage for recovery. Notably, the Coinbase Bitcoin Premium Index surged, indicating a recovery in U.S. spot demand, a key precursor for rallies. This technical reset cleared the path for a potential bullish continuation. Bitcoin has a CME gap at $84K BTC was inching closer to the $84K CME gap, with many eyes on this critical level. Historically, CME gaps have been magnets for price movement, often pulling Bitcoin higher to close them. Source: TradingView As the king coin traded near $78,000, it was clear the $84K gap was drawing attention. Traders were eager to see whether the gap would fill, as a move towards $84,500 could trigger fresh buying interest and a larger rally. Fibonacci—The new resistance: Will it break? At press time, BTC was testing the crucial 61.8% Fibonacci retracement level around $79,000, acting as strong resistance. Source: TradingView A break above this level, however, could have paved the way for Bitcoin to push higher, targeting the 50% Fibonacci level, around $90,000 to $95,000. With the RSI nearing oversold territory, the conditions resembled past market bottoms where BTC staged strong recoveries. If Bitcoin had broken through the 61.8% level, the $90K+ range could have been next, driven by fresh buying interest. What’s next for Bitcoin? Bitcoin’s future hinges on institutional momentum and breaking resistance. However, failing to break $79K might have led to a pullback, with support around $63K–$67K. The Coinbase Bitcoin Premium recovery suggested growing…
Filed under: News - @ February 3, 2026 7:23 pm