Cryptocurrencies are up on Monday, despite Bitcoin retracing a spike above $122,000 back to $120,000.
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Trader Notes: Altcoin Sherpa noted Bitcoin recently hit $122,000 but is now pulling back. He expects a possible bounce near $117,000, which coincides with a CME gap, though it's unclear if that will mark the local bottom.
Michael van de Poppe highlighted a bearish daily candle forming after Bitcoin grabbed liquidity near the range high resistance. He suggests a dip toward $116,800 may occur before the uptrend resumes.
Jelle sees Bitcoin gearing up for a move toward $130,000, citing a "power of three" setup in play.
Crypto Seth pointed out the Bitcoin CME gap is nearly filled, expressing a preference for it to close sooner rather than later.
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