Bitcoin News Today: Bitcoin Trapped Between $113.6K–$114.5K and $120K Clusters, CME Gap at $114.3K Looms

Bitcoin’s price action has become increasingly confined between two key liquidation clusters, with traders closely monitoring the potential for a break below $113.6K–$114.5K or a test of the upper $120K–$121K range. The asset’s recent behavior suggests a lack of clear directional momentum, as it remains trapped in a range defined by historical liquidity levels and an unfilled CME gap at $114.3K. Analysts from CrypNuevo note that the formation of a long downside wick—following a series of upper wick rejections—has heightened expectations of a price revisit to the lower cluster in the coming sessions [1].

The current structure indicates a struggle between bullish and bearish forces, with Bitcoin unable to sustain a breakout beyond either end of the defined range. The upper cluster, spanning $120K–$121K, represents a critical resistance zone where previous attempts to push higher have stalled. Meanwhile, the lower cluster between $113.6K and $114.5K acts as a focal point for potential support. CrypNuevo emphasizes that price action within this range has historically followed an oscillating pattern, with the $113.8K level serving as a pivotal midpoint that could determine the next directional shift [1].

A key technical factor influencing near-term expectations is the unfilled CME gap at $114.3K, which has remained open by a few hundred dollars despite repeated attempts to close it. Historical tendencies suggest that such gaps often attract price action, reinforcing the likelihood of Bitcoin moving toward the lower cluster in the coming one to two weeks. This development aligns with broader observations of market hesitation, where liquidity appears evenly distributed between the two clusters but lacks the catalyst for decisive movement [1].

Traders are advised to monitor the interplay between the CME gap and the liquidation clusters, as these levels could dictate the immediate trajectory. If Bitcoin successfully clears the upper cluster, it may trigger a reversal toward the lower range, while a breakdown below $113.6K could signal a more prolonged bearish phase. Conversely, a sustained push above $120K would require overcoming the entrenched resistance and resolving the gap at $114.3K, a scenario that has not materialized in recent sessions [1].

The absence of a dominant trend underscores the market’s reliance on structural liquidity rather than external catalysts. CrypNuevo highlights that Bitcoin’s price behavior is increasingly tied to historical price activity, with the long wick acting as a temporary attractor for renewed volatility. This dynamic suggests that traders should remain cautious, as the market’s response to liquidity zones could remain unpredictable in the short term [1].

Source: [1] [Bitcoin Trapped Between $120K and $113K Clusters as CME Gap Looms] [https://cryptofrontnews.com/bitcoin-trapped-between-120k-and-113k-clusters-as-cme-gap-looms/]