Bitcoin price dipped below $90,000, filling one of two new futures gaps. Analysis suggests $88,000 could be the next target, marking the potential bottom of the next BTC price cycle. Market participants eye the 21-day moving average trendline and exchange order-book liquidity levels at $89,000 and $92,000.

Bitcoin and gold both cooled their new-year rebound amid geopolitical tensions around Venezuela. Analysts watch for BTC to hold the 21-day moving average at $88,900. Exchange order-book liquidity identifies key levels at $89,000 and $92,000, with potential for price consolidation until the end of the week.

Focus remains on filling the remaining gap on CME Group’s Bitcoin futures market, with one gap already filled near $88,000. Analysts predict a potential deeper move to fill the second gap near $88,200. Eliminating this risk could set the stage for a stable upward trend, while failing to fill the gap may indicate the bottom of the next cycle.

Read more at Cointelegraph: Bitcoin Targets Futures Gaps as it Dips Under $90,000