BTC CME GAP- Just posting to monitor the new gap.
- Not an Analysis.
- This new gap can be taken back fast or can be taken back later at next bear market.
- The Legend of the Gap.
Happy Tr4Ding !
Btcgap
BTC CME Gap What is CME Gap? (Chicago Mercantile Exchange) (CME)
A CME gap is created when the price of Bitcoin opens above or below the previous day's close on the CME exchange.
One of the prime reasons for CME gap creation is the fact that CME markets remain closed over the weekend and during a part of the day. Bitcoin, on other spot exchanges, is traded 24×7.
Historically, the percentage of CME gaps that get filled is between 60-80%. Hence,
using it as an indicator provides you with a degree of accuracy. A review of previous events could shade more light on this claim.
BTC down when Amazon denies BTC paymentsAs we didn't expect - the rumours about BTC payments pulled BTC price higher than H1 downtrend channel.
As we expected than - a good bounce from the resistance of 40500 - 40000 to the level of 37000 - 36500.
The price now is about 37000 and we should share our trading ideas with you.
The main thing is that we are still in a major sideway correction.
It is on the way, and we can see the real efforts to brake the downtrend and move up again (but not now).
There still was no real downtrend correction, as you can see it in the chart.
Probably BTC can move higher, but not so high as the Binance squizze (LOL).
Please also mention that now we have a HUGE GAP on 34550 - 32450 that can be closed in this week.
So we are again looking for a good SHORT position and will keep in touch with more good ideas from Scalper Season Team.
If BTC will be stable for few days higher than 42000 - 41000, than we can expect it above 57000 - 55000.
Bitcoin Entry for bulls !! to the gap !!Hello,
1. Elliot wave retracement for wave 2 is at the green pocket at previous resistance which will be tested as support.
2. CME GAP AT 60K levels.
3. same fractals from historical price movement.
4. Harmonic Cypher pattern will throw the price to 60k levels back again.
5. Volume is missing on this breakout. possibly bulls waiting for a retest,
6. RSI Is overbought.
Cheers.
