The post After a Slight Pullback, Bitcoin Price is Ready for a Bounce-Here’s Where it May Lead! appeared on BitcoinEthereumNews.com.

The past weekend was pretty bearish for the Bitcoin price rally as the token plunged below $94,000 after recording a bearish weekend. The rise to the local high of $97,895 attracted significant bearish attention, but the volume remains restricted within a range. This suggests the bulls remain passive but are offering enough support at $94,000 that may uplift the tokens within the bullish range in a short while from now.  Breaking the $95,000 support range was assumed to drag the BTC price to $92,000, but the ongoing price action suggests massive strength of the bulls. Hence, a rebound seems inevitable! The Bitcoin price is known to fill the CME gaps, which have been formed around the current price levels. The lower gaps usually trigger a strong pullback, while the gaps at the upper levels push the token higher. However, the price faces a reversal after filling the gaps. The current trade set-up shows a gap on either side of the price, keeping the upcoming price action in an ambiguous state.  Source: X Currently, two gaps have been formed close to the current price, one between $96,400 & $97,600 and the other between $92,500 & $91,700. If the bullish trend is in place, the BTC price may focus on filling in the lower gap first, which may be accompanied by a massive bullish rebound. This suggests the price could be primed to drop below $92,000, which could be the local bottom of the persisting pullback.  Meanwhile, a volatile week ahead with FOMC and Coinbase earnings scheduled later this week. Therefore, if the price triggers a long trade, it may reach the local highs at $98,000, where we can see some LTF liquidations after a reclaim of the previous range highs. However, the BTC OBV daily trend remains bullish. Therefore, as long…

---

Filed under: News - @ May 5, 2025 5:21 am