Bitcoin Analyst Predicts Price Drop Before Thanksgiving Rally

A prominent analyst, CrypNuevo, suggests Bitcoin may rally by Thanksgiving and Black Friday in late November, but warns BTC might first dip to lower prices.

CrypNuevo sees the US Government reopening potentially injecting liquidity into markets, aiding a Bitcoin price increase alongside other markets. He cites delayed payouts up to $70 billion as a contributing factor.
The target is a two-month high around $116,000, following the October crash.
Short-term analysis indicates that Bitcoin could revisit lower levels due to a small CME gap and other technical factors before the anticipated rally.
This gap aligns with key indicators like the 50-period exponential moving average, predicting a potential drop to around $104,000 before recovery.

CME gaps are often used as indicators, marking price differences between weekend futures trading sessions, which currently suggest possible downside deviation before an upward move.