Bitcoin Price Retests $7.3K as Analyst Eyes New Bullish Futures ‘Gap’

Bitcoin (BTC) fell back towards support at the $7,250-$7,300 level on Dec. 1 after its latest sudden uptick began to fizzle overnight. 

Cryptocurrency market daily overview. Source: Coin360

Futures gap incoming if lower levels stay

Data from Coin360 showed the largest cryptocurrency shedding almost 30% of its gains from earlier in the week, dropping from local highs of $7,790 to around $7,300 at press time. 

The downside equated to 24-hour losses of 6% for Bitcoin, which began showing signs it would test support strength at $7,000. 

Previously, BTC/USD hit multi-month lows of $6,500 before rebounding almost $1,300 within a matter of days. 

At press-time levels, the pair was trading at exactly the same level as last Sunday. 

Bitcoin seven-day price chart. Source: Coin360

Now, analysts were looking for factors that could influence short-term momentum up or down. In particular, Cointelegraph contributor Michaël van de Poppe eyed a likely “gap” in Bitcoin futures markets. 

As…