Will Bitcoin fill the CME gap?
Updated
BTCUSDTraders,
Seems like Bitcoin is contracting into a Rising Wedge, pointing at a direction that may fill the CME futures gap in the 8250-8500 level:
- Decreasing volume
- 5 previous daily closes above the Fib Pivot Point
Even when the wedge is not exactly pointing to that area, a throw over or a wick may close it.
The gap is exactly also below the Fib Resistance 1. Will be closing longs there.
Even though I've been trading crypto for some years now, this is my first published idea, i hope someone finds it useful.
Profitable trading everyone!
NT
Trade active
Got stopped out from part of the position.Price already closed on the daily outside the rising wedge but it didn't break down aggressively, it may be contained inside an ascending channel, plus we have the Pivot Point just below us, would be watching that support closely.
Trade closed: target reached
Bitcoin got to the initial area of the gap today. Remaining original position kept in long, now with tighter trailing stop and looking to close it manually on the top area of the gap. Cheers everyone!
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