CME BTC1! - 4h - New Gap on Monday MorningA new gap on weekly open, lets see how fast we close it. ;)
Cme!
$BTC SHORTThe price impulsively closed the gaps in the area of 49k, there is one more at 46.995, where the price will come within a couple of days or hours.
USDCAD - LONGRe-enter setup. Consider the development of a North Impulse after a reversal volume pattern. The target is the POC level in Supply Zone.
USDCAD - LONG
ENTRY PRICE - 1.20930
SL - 1.20200
TP - 1.22640
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BITCOIN - Correction Due ⚠️Bitcoin is currently in an ascending correction which is often a reversal pattern. Wave E finishes nicely at 50K which a lot of people will be looking at. Watch for bearish rejection at 50K which could take us back to either 42K or even 35K (where we have the CME gap).
Current Downside TargetThe hash ribbons indicator which is very rare to happen has already lit up into buying signal and after days of green candles,
I suspect and hope (actually) for a better leg up in a retracement of BTC's current price.
My good case retracement scenario is BTC testing the 41K level as it is the price where the blue downward slope and as 41K price level is around 0.5 Fibonacci level from the newest daily low (37.3K-ish) up to the highest point (45.3K-ish).
(This price might be a good time to go long in trades and take profit quickly after meeting the resistance around 42k-43k). #Not a Financial Advisor
If it broke down, we will see a test around 36K level, and from that point, it's best to continue watching BTC price movement as this is the second to last support level.
The last support level in a very worst-case scenario according to my analysis is around 32.2K which is accidentally the same as the 1.6 fib level and CME level.
So yeah, This is my current price analysis of the downside level that BTC can put its leg up to...
Looking forward to seeing your comments and what you think will likely happen according to your analysis... THX
BTC will test 33K and probably 25K to fill #CMEGAPCME futures sometimes forms a gap in price and it later get's filled almost all the time.
Currently we have gaps at 33K and 25K
With BTC being bearish lately ( ignore this week green candles after fake #AMAZON news)
Bitcoin CME GapsThe “Bitcoin CME Gap” is the difference between the trading price of a CME Bitcoin futures contracts when the market opens on Sunday, and when it closes on Friday.
In 77% of these cases the retracement occurs in the subsequent week, before the next CME market open.
No matter which type of trader you are, never forget: “mind the gap”.
BITCOIN - Watching 36K For Continuation!In our last Bitcoin Analysis. we were signalling that we may see a breakout soon. Since that post, we got a massive 30% breakout!
Retracement Long Scenario:
Watch for price to retrace back to the 36K level where we have previous structure. Entry on breakout of the retracement correction.
Continuation Long Scenario:
Watch for price to break the 41K level and get in on the retest of 41K with stops below the structure.
Short Scenario:
Watch for price to break the 36k level and enter on the retest with targets of 30K. Stops above the 36K structure level.
CME Gaps explained - Sunday night suckersI've been exploring CME Gaps for sometime. Here in this chart I go through several of the most outstanding gaps left in the BTC market.
Tonight was a wonderful example of how CME Gaps can lead you astray. Generally speaking, CME Gaps are filled relatively quickly, and or the gap price hovers closely over the weekend, so the fill almost goes unnoticed.
This weekend however, went differently (so far), but not so differently if you look into the past. There is in general gap theory on all charts, but BTC holds many peoples close attention. The last time the CME gap was this large, it slowly but surely filled that gap methodically. Once market makers saw this opportunity (imo), there was an explosive run away gap scenario to take advantage of. Many retail traders observed an opportunity to short once CME began trading again, this is generally not a poor strategy. However, other market makers saw an opportunity to grab liquidity, and they have thus far.
Which other major CME Gap will fill first $49K or $23K? Or alternatively, fill the newly existing CME Gap and remain range bound for another month or so?
BTC1! Descending trianglePrice action printing a bearish descending triangle in a downtrend and in a descending channel. Price action coming to the end of the triangle in a few days. Many gaps needs to be filled below. Reminiscent of February 2020.
Interesting confluence for BTC around $23.8K Fib + CME GapRecently found some interesting confluence around $23.8K for BTC. If you like this let me know, or why you disagree.
The entire Global Fib "Golden Pocket" from Bitstamp, happens to overlap with the largest remaining CME Gap yet to be filled from Dec 2020.
Fib extension from the very top has a 2:2 smack in the middle of the overlap, as well as a 1:1 Fib extension from the local price action.
Will we reach this level before rising back into a full bull market? Personally, I believe we will.
Want To Swipe My Futures Watchlist?There's a new TradingView feature that lets us share our watchlists. I'm partial to my sexy collection of futures symbols, so go ahead and grab it here: www.tradingview.com
Also, I've got a sell/short signal on the notes. RSI (upper 88), 3-period is a bit juiced.
And finally, the best resource for futures symbols and product descriptions is the CME site.
www.cmegroup.com
Three Paths for Bitcoin1. green short squeeze (unlikely, unless SEC Approves BTC ETF)
2. red long grind down multi year bear
3. yellow down then up shakeout
#Ethereum - When you invite Wall St into your party this...is what happens
Pushed it up and down
now up?
#cme #futures
this kind of volatility will attract additional institutional speculators.
BTC1! BTC CME - 12hr Death CrossBTC CME Death Cross (50/200ema)
BTCUSD Death Cross occurred 21 May 2021 with a substantial reactionary drop of roughly 26%
Always be prepared for the bear case - it creates opportunity!
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This content is for informational, educational and entertainment purposes only. This is not in any way, shape or form financial or trading advice.
Good luck, happy trading and stay chill,
2degreez
BTCUSD Bitcoin - there is a CME gap at 48kThere is is. IF this pulls us back up it could then lead to consolidation above the 200 daily MA.
Let's see what happens....
BTC1! new 48k gapBTC1! failed to close the top CME gap at 60k of the double gaps before dropping significantly. This I interpret as bearish, but the silver lining is that price will return to 60K in the future. Currently a new significant gap was formed at 48k,and probable that price action will close this gap soon since price action has formed long absorption wicks at 42k and an HTF bullish engulfing candle.
