- Bitcoin has completed the Daily CME Gap between $114,305 and $115,675, reaching a critical technical juncture near the $116K level.
- A breakout above $116K could shift resistance into support and set the stage for a move toward the $120K–$122K price region.
- Glassnode data shows strong holder conviction, with minimal selling from $118K–$120K zones and steady demand amid a weakening U.S. Dollar Index.
Bitcoin has fully filled a crucial Daily CME Gap and is now battling to reclaim the $116K level, a key resistance zone. The outcome at this level may shape Bitcoin’s short-term trajectory as bulls and bears contest market control.
CME Gap Filled as Market Reaches Technical Pivot
Bitcoin completed the long-anticipated Daily CME Gap between approximately $114,305 and $115,675, marking a pivotal technical milestone. The move represents a common market behavior where prices revisit previously illiquid areas. Analysts consider this a necessary correction before any sustainable upside attempt.
Crypto analyst Rekt Capital highlighted this development in a recent update, emphasizing the importance of this gap fill. He noted the current resistance range sits at $115,675–$116,080, where Bitcoin faces difficulty pushing higher. The market is currently testing this ceiling after a green close just beneath it.
This technical rejection hints at hesitation near the top of the gap, yet the green candle reflects ongoing buyer interest. A strong reclaim and hold above $116K is now seen as the next critical step for bullish continuation. The battle for this level will define near-term momentum.
$116K Resistance Zone Draws Market Attention
The $116K level has become the immediate battleground for Bitcoin, acting as both resistance and a potential springboard. According to Rekt Capital, reclaiming this area would flip it into support, paving the way for further gains. Without a decisive close above it, Bitcoin risks a pullback.
Failure to secure this level could result in a retracement toward $111,390, a major support zone identified on the charts. This level would become more relevant if Bitcoin faces ongoing rejection near the current range. However, bulls remain active and may continue pressing to break above resistance.
A successful close above $116K may suggest the beginning of a new up leg as traders start to target the $120K+ area. Because of this, traders are focusing on the current price action to see if this resistance will hold or break.
Market Structure Shows Strength Amid DXY Weakness
Glassnode reports suggest steady investor participation, with the air gap between $109K and $116K being gradually filled during dips. The staircase-like structure implies growing market confidence, with limited sell-offs from the $118K–$120K zone. This pattern shows investors are mostly holding, rather than distributing.
The recent collapse in the U.S. Dollar Index (DXY) has added a supportive macro backdrop for Bitcoin. Economic data released last Friday led to declining Treasury yields, weakening the dollar further. In the past, a falling dollar tends to benefit risk assets like Bitcoin.
The decline in the dollar creates a more conducive environment for crypto assets, creating more favorable conditions for Bitcoin to move higher. As macro conditions remain positive with the testing of technical levels, the next potential move for Bitcoin is to reclaim the $116K resistance zone.
