The post Bitcoin Price Prediction: Relief Bounce Or Trap? appeared first on Coinpedia Fintech News
Bitcoin is showing early signs of stability after dropping into a key support zone, but analysts say it is still too soon to call a strong reversal.
Bitcoin recently moved down to fill a CME futures gap between roughly $88,250 and $88,735, a level many traders were closely watching. Once the gap was filled, the price bounced, which was widely expected, as CME gaps often act as temporary support.
Why the bounce happened
The market had become oversold across multiple time frames, including the one-hour and four-hour charts. When prices get stretched too far to the downside, short-term buyers often step in, leading to a relief bounce.
That is exactly what happened. Bitcoin reacted positively from the gap area and is now trading slightly above it, holding near Fibonacci support levels.
Despite the bounce, analysts say there is no clear sign of a strong upside reversal yet. Moment
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