Will this be it?

Bitcoin tends to close all and every gap.

This time was no different.

We had a sizeable CME gap earlier this week, only to have it completely closed several days later.

Here's the chart:

(Source: https://x.com/CryptoMichNL/status/1808525726947147990/photo/1)

Now the question is where do we go from here?

My guess is this drop was more than just a gap closure.

This is part of a much bigger pullback that is going to break lows that were not supposed to break.

I would say that when the dust settles we may see the $40k's again over the next month or two.