Bitcoin sold off immediately after the CME reopened, and the short-term outlook remains weak. One small positive is a minor CME gap around $95,500.

Over the past 6 months, every CME gap has been filled, with roughly 95% closing within 7 days.

Trump and EU leaders are scheduled to meet in Davos later this week, so a deal could spark a relief bounce.

Opening a long here is tricky, as it would largely rely on a deal materializing, which doesn’t seem very likely at this stage.

Let’s see how it unfolds. Interesting week ahead.