Mind The GapBitcoin is showing some promising signs of bullishness after it broke and closed above key resistance of around $7700 which has been under for over six weeks.
Before we get too bullish though, many might not have spotted the gap in the CME Futures chart that formed overnight when it stopped trading. Based on history, these gaps tend to get filled, especially on the 4h and certainly on the Daily which is also showing a gap currently.
Bitcoin has now been rejected by the 200 Daily EMA (1200 on the 4h). A re-test of the $7650 level would make a lot of technical sense here before continuing its rally, and this is especially true given the gap that has appeared.
A reminder to myself and anyone caring to read this - don't chase. Concentrate on making good trades. I will be looking to add to my position on a retrace to the golden pocket. I am not banking on the gap being filled in order to enter, but aware that a continued rally from here without a few % retrace seems unlikely at this time.
Cmefutures
CME FUTURES Gap needs to get filled!There's a CME futures gap around 7665$ to 7723$ that needs to get filled. I think BTC will have a pull back to this price and then it will start going up again. I'm bearish short term although we had a nice momentum but I think there's a pullback coming and after that we'll break higher resistances.
New Open CME Futures Gap| BTC Resistance .618 Fibonacci Level Hello traders!,
Today’s chart update will be on BTC CME Futures chart which has just put in a new gap that will most probably fill sooner rather than later.
Points to consider,
- Trend hitting resistance, .618 Fibonacci
- .382 Fibonacci is local support
- RSI in overbought territory
- Stochastics in upper region
- EMA’s yet to meet price
- Volume below average
Local resistance, the .618 Fibonacci; is a key level for BTC to break to maintain a bullish bias, this will help create higher highs in the overall trend. Support is found at the .382 Fibonacci level, below the futures gap, bulls have a lot of room to work with in order to establish a new higher low whilst filling the gap.
RSI is resting on overbought territory; a return back to support is highly probable, this will help cool of the indicator. Stochastics itself is also in the upper regions, can stay here for an extended period of time, however lots of stored momentum to the downside.
EMA’s are yet to meet price, must hold BTC as support as the EMA’s have already crossed bullish. Volume is below average, an influx of bull volume is needed to keep BTC above support when and if it comes down to fill the open gap.
Overall, in my opinion, gaps tend to get filled sooner rather than later. BTC is highly probable to retrace back to at least $7255 level before another impulse move either up and or down.
What are your thoughts?
Please leave a like and comment,
And remember,
“Accepting losses is the most important single investment device to insure safety of capital.” – Gerald M. Loeb
A CME'S GAP that no one has identified !Ladies and gentlemen, i'm more than happy to celebrate my 1500 followers. A big thanks to everyone who supports my (free) work. For this great occasion, here is a new BTC chart, i hope you will enjoy it.
It's been a long time since I published a BTC chart. For my french followers, there is a french video in 2 part on TradingView (which has been working well since 1 year). If you are not french you can just look at the graph on the video to see the idea (the top around 13800$, etc.) For the others, here is a new chart :
About CME FUTURES's GAP :
There is a GAP between 3564$ and 3595$ which has not been filled, you can see it on the 4h chart. This is the first time since the CME Futures history on BTC that a GAP is not filled.
SPOILER ALERT : I think we are going to fill it.
Technical analysis :
Trend : After an over-extension (4.618fib) of the C (ABC correction), the price broke the parabolic structure in July. After this price consolidated in a range and is now bear-trending.
Pattern : A clear H&S is forming, ready to breakdown (however, volume is not confirming it).
Indicators :
- EMA : highly bearish with a death cross (55/200).
- Ichimoku : Switched bearish some days ago.
- RSI : The strong bearish divergence has been activated and RSI is now in bearish zone, waiting for oversold conditions.
- MFI : in bearish zone.
Please let me know in the comment section what you think about this chart and what is your point of view about BTC price evolution !
If you are enjoying my work, please like, share and follow me !
We are more than 1500 : THANK YOU EVERYONE.
DISCLAIMER : I'm not financial advisor. You trade at your own risk. I can't be responsible for your loss. Short BTC is always risky.
Bullish: a guarantee BTC is going back to $12k?While there is a continued argument between “gaps always fill” and “gaps mean nothing”, the fact is: the Bitcoin futures contract on the Chicago Mercantile Exchange (CME) generally always fills its gaps - but is this becoming a guarantee of future performance?
Since the CME only trades during the working week, if BTC makes a big price move during the weekend, the CME reopens on Monday with a blank gap between the Friday close price and Monday open price - not something we are traditionally used to in the 24/7 Bitcoin world.
What is interesting about this is that in the following days the gap is always filled by BTC's price moving back to cover the area the CME missed... does this mean once a gap is created you have a near certainty that BTC will revisit that price level? Perhaps. But beware an example on November 5th when the gap was filled by a huge CME wick that did not occur in other exchanges (we fell back through that area regardless in the following days, but that's beside the point).
So what is perhaps most interesting is that in all its history the CME has filled all its gaps... except one: during the weekend of August 10-11th the CME left an as yet unfilled gap between $11695 and $12000 . Is this all coincidence or could this be as close as we'll get in crypto to a guarantee of future BTC value to $12k+ after the current dip?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and concise fashion.
Bullish: A guarantee we are going back to $12k?While there is a continued argument between “gaps always fill” and “gaps mean nothing”, the fact is: the Bitcoin futures contract on the Chicago Mercantile Exchange (CME) generally always fills its gaps - but is this becoming a guarantee of future performance?
Since the CME only trades during the working week, if BTC makes a big price move during the weekend, the CME reopens on Monday with a blank gap between the Friday close price and Monday open price - not something we are traditionally used to in the 24/7 Bitcoin world.
What is interesting about this is that in the following days the gap is always filled by BTC's price moving back to cover the area the CME missed... does this mean once a gap is created you have a near certainty that BTC will revisit that price level? Perhaps. But beware an example on November 5th when the gap was filled by a huge CME wick that did not occur in other exchanges (we fell back through that area regardless in the following days, but that's beside the point).
So what is perhaps most interesting is that in all its history the CME has filled all its gaps... except one: during the weekend of August 10-11th the CME left an as yet unfilled gap between $11695 and $12000 . Is this all coincidence or as close as we'll get in crypto to a guarantee of future BTC performance to $12k+ after the current dip?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion.
Have we all been looking at the wrong BTC chart?A glimmer of home in these bearish times. Whilst the bounce in late October came off the 200 weekly moving average in the BTCUSD charts, once we switch to the CME Bitcoin Futures chart (who promised to "tame" Bitcoin) it takes a different significance - with a direct bounce off the 200 daily moving average. All CME gaps (due to large weekend BTCUSD price movement being missed by CME when it is not open) eventually get filled, so do not underestimate the influence of CME Futures on BTC price movement. Incidentally, CME Bitcoin Futures still has a gap at $11695-11795 and history would dictate that one way or another we will revisit that area - even if only in a CME wick spiking up.
The CME daily 200MA is exactly where we struggled during the spring bull run, exactly where we found strong support in October, and it just happens to be exactly where we are right now.
Whilst most other technical analysis would suggest we are going to $6750 (then further down into the $5-6k range), if the CME daily 200MA holds it could well prove to be the support and excellent entry point of the next bullish move . Keep an eye on it.
Save crucial space on your Trading View chart by utilising the free RSI and StochRSI indicator which overlays both in a clear and helpful fashion. Add the essential 50, 100 and 200 moving average to your chart too.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
BTC Falling Wedge Pattern| CME GAP Filled|Buyers Looking Strong!Hello Traders!
Update on Bitcoin's recent developments in this falling wedge pattern, The CME future gap finally filled, with a large wick (check linked chart), this was not displayed on the spot charts which is weird, but I am under the assumption that it has filled...
Price is holding up in a tight range near resistance, will we see a continuation in the bull trend from here?
Points to consider,
- Trend structurally still putting in lower highs
- Price respecting structural support
- Major resistance line currently being tested
- Stochastics is flattening out
- RSI below resistance
- EMA’s looking bullish
- Volume is declining
- VPVR decreasing in volume of transactions
Bitcoins falling wedge pattern now has multiple touch points and a fake out, which confirms the significance of the current area it’s trading in. Price is respecting structural support within the pattern, this is a very key level, and price action suggests that buyers are strong at current given time. Major resistance level is currently being tested, price is holding up at this critical level with a clear cluster of candles, again signalling that buyers are strong.
The stochastics is currently flattening out which signals that a move is imminent, there is momentum stored both ways for a bearish and or bullish break. RSI is currently trading below resistance, needs to enter green zone for a bull break, it can stay in that zone for an extended period of time as price history suggests.
The EMA’s are looking quite bullish, it needs to hold price as support, this will further give the bulls momentum to push price through Bitcoins current resistance line. Volume is visibly declining, signalling volatility is imminent, and an influx in bull or bear volume will confirm the next impulsive move.
VPVR has decreased in volume of transactions rapidly from current levels up; this suggests that a bull break will have little resistance posed by the VPVR as not much volume has been traded in the upper regions.
Overall, IMO, Price has held up and above the structural resistance which is very bullish, indicates that buyers are strong in this area. Volume is declining at a key resistance point; a break will need an influx of volume, which is imminent. A bull break will allow this pattern to come to fruition and will change the overall market structure, allowing it to put in a higher low.
What are your thoughts on Bitcoin Price Action?
Please leave a like and comment
And remember,
“The obvious rarely happens, the unexpected constantly occurs.” – Jesse Livermore
Could we fill the CME Gap ?Since this massive spike it seems the bullish sentiment is expanding quickly. Which is excellent. Bullish sentiment is something that we need in order to continue the run up.
However, when taking a closer look at the recent leg on larger time frames. It appears to be nothing other than a simple retest of the major resistance line down, and the bottom of the daily pennant that was broken down from just a few weeks back.. Until these lines are broken it will be very difficult for me to add leverage positions with confidence.
Demonstrating the retest and major resistance:
Since I not leveraged, I am doing my best to search for major support. At the moment, it seems that 8700 could be that level .
Here's why:
1. At 8700 we have the 50% retracement from the recent top. Which is also the same retracement level that we hit this last bounce from the top.
2. Based on the range that we created the first weeks of October, 8700 should provide decent horizontal support.
3. Last but not least, 8700 also marks the bottom of the CME gap that was created over the weekend!
Now I have never been a gap trader, however with the additional technical support, it seems like a good place for me to put my money.
Also note: We have yet to break back above major resistance. Trade carefully.
I hope you all enjoyed this article and maybe even found it a bit interesting!
Wish you all the best of luck!
BTC $950 CME Futures Gap| Correction Imminent| BTC Local TopHello Traders!
What goes up… Must come down!
Today’s update will be on Bitcoin in comparison with the CME futures Chart, a massive $950.00 Gap that with a high degree of probability, will get filled. Is this the local top for Bitcoin?, we have a handful of indicators that point towards that…
Points to consider,
- Trend highly overextended
- Local Support at .50 Fibonacci (.382 on the CME futures chart)
- Structural resistance being rested
- Stochastics in upper region
- RSI in overbought territory
- EMA’s yet to meet price
- Volume influx is very high
Bitcoins impulse move continues to be overextended in a parabolic manner, with indicators way overextended; we need a healthy correction at some point. Price was initially met with high selling pressure at local top, signalling a volume climax.
Local support is found at the .50 Fibonacci level, a retracement to the level will close the CME futures gap (.382 Fib Retracement), where price is likely to hold support at this area due to market structure, previous resistance turned into support.
Major structural resistance is currently being tested, it is in confluence with downs sloping resistance, the consecutive lower highs. This is a very critical area in the trend, if broken, will change the overall market structure for Bitcoin.
The stochastics are currently in the upper regions for both charts, this signals that there is a lot of stored momentum to the downside if price was to correct. We don’t really have a clear direction from the Stochastics as it can stay over extended for a long period of time. The RSI is quite interesting however, it is in highly overbought territory, last time we tested these areas, Bitcoin experienced a huge correction over 20%...
EMA’s however are yet to meet price, we need it to hold support at the .50 Fibonacci level if price where to retrace from local highs, the will validate support and in confluence close the open gap on the CME futures chart (.328 Fibonacci level).
The VPVR on the CME futures chart indicates that there is very little volume of transactions between structural resistance and the .382 Fibonacci level (close of gap). This signals that the VPVR will pose very little resistance if price was to start a healthy pull back.
The volume is way above average, signalling buying climax that ran into strong selling pressure, hence the massive wick as bullish pressure got exhausted… In other words, sellers are very strong in upper regions, putting more emphasis on a correction.
Overall, IMO, BTC is likely to be topping out, we may see a final impulse move up, but that will just make the trend even more unsustainable. A correction back to the $8,800 mark (.50 and .382 Fibonacci levels), is highly probable, as this will fill the CME futures gap. This will also be very healthy for the price and will cool of the overextended indicators.
What are your thoughts on BTC and the futures gap?
Please leave a like and comment,
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.” – Jesse Livermore
0042 - Short E-Mini S&P Future ContractsPrecio de Entrada: 2955.25 USD
Stop-Loss: 2997.25 USD
Objetivo Mínimo: 2819.25 USD
Objetivo Máximo: 2819.25 USD
Razonamiento:
- Entre el 01 y 02 de Octubre el precio rompe a la baja zona de soporte en donde confluyen el mínimo del mes de Julio 2019 y un nivel invertido semanal. De tal modo que el sentimiento de mercado que tomo es bajista.
- El precio de entrada se encuentra justo en el mínimo del mes de Julio de 2019 que ahora debería funcionar como resistencia. Se busca operar el test al nivel invertido.
- El stop se encuentra justo por encima del high de la vela del 01 de Octubre que fue la que rompió a la baja el soporte.
- El Objetivo Mínimo y Máximo se encuentran justo por encima de un nivel de soporte que demostró ser una fuerte resistencia en los meses de Octubre, Noviembre y Diciembre de 2018 a la vez que fue un fuerte soporte durante el mes de Agosto de 2019.
0041 - Long Gold Future ContractsPrecio de Entrada: 1495.70 USD
Stop-Loss: 1477.60 USD
Objetivo Mínimo: 1542.90 USD
Objetivo Máximo: 1552.50 USD
Razonamiento:
- Luego de romper el soporte en los 1490 USD, el precio se recupera y vuelve al rango en un corto plazo. De tal modo que asumo un sentimiento de mercado alcista y el rompimiento como falso.
- La entrada se encuentra justo por encima del soporte, esperando entrar en un test a dicho nivel, lo cual, dibujaria adicionalmente un higher low.
- El stop esta por debajo del ultimo swing low en 4H.
- El Objetivo Mínimo se encuentra al nivel del ultimo swing high.
- El Objetivo Máximo se encuentra en la parte alta del rango.
2 CME BTC FUTURES GAPS LEFT! 2 Bitcoin Futures Gaps Left @ $7,200 from May 2019 & $11,900 from August 2019.
One gap was filled today at $8,500. This came after the Bitfinex news today.
Also, Tether broke a record at $ 4,149,115,121.00 It was just $2 Billion in April 2019 !!
Noteable mention: Bakkt has been online for 2 days.
THIS IS NOT INVESTMENT ADVICE, THIS IS JUST MY OPINION.
-ADUMB-
Ethereum appears to be trading in a bull flag.Or a descending triangle.
One thing to keep in mind everyone, the CME Group, one of the world’s largest financial exchanges, is prepping to launch a product for Ethereum, if I'm not mistaken they already launched. For those unaware, the CME is a Chicago-based institution that famously launched Bitcoin futures near the peak of 2017’s boom. Recently they've announced they'll be launching Bitcoin Options in Q1 2020 as well, in a response to Bakkt "IMO." They'll try any way possible to manipulate..
I find it hard to believe that only 3 JPM employees are are responsible for manipulating the Gold & Silver futures markets etc, via "CME" in most cases keep in my mind.
If you honestly think that they are not doing their best to manipulate Ethereum etc, than you are just silly.
Is what it is, glta.
E-MINI DOW JONES FUTURES 1D RANGE TRADESRanges, Triangles, Descending Triangles, and Ascending Triangles are repeatable trading chart patterns.
Triangles and ranges are consolidation chart patterns that can breakout either direction.
Ascending and descending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart ).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility ) this shows a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the volume settings on the chart – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
BTC CME FUTURE'S GAPBTC CME FUTURE'S
Watch out with this GAP on BITCOIN CME FUTURES most likely GAP will be filled look at what happened on the previous gap.
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BTC Thoughts Thru September (Novice Analysis)Potential Bull Flag waiting to play out on the BTC
CME Futures
Expecting overall decline in volume to continue
until bottom of flag is tapped again and the
CME Gap (green circle) is filled
1M candle printing out an attractive inverted
hammer for August to add conviction to my
bullish bias
This implies we continue upward
after filling the gap and buyers overtake sellers
in this last beauteous opportunity to buy BTC
under $10k before attacking ATH
Bitcoin - 6K Confirmed ! (The Perfect FIB) {PART 2}Hey lovely people ,
Welcome to part 2 of the PERFECT FIB
After all the hate comments and a time of indecision we finally dropped towards my TP (0.618 FIB) which right now exactly corresponds with the blue MA line.
Now I'm waiting to see how it will respond, If it goes below the MA line with a daily close I will be crazy bearish.
If it bounces off I will see how the market will respond and make a new TA based out of that.
Sounds like a win/win ? That's because we always win :) (with right risk management)
Like this post & Follow, so I can keep making these (winning) TA's for you guys.
- Crypto Doggo
Bitcoin - FIB PLAYED OUT PERFECTLY! (Trade Setup NO RISK) Hello and welcome back again.
As you can see from my previous post, the FIB line acted as perfect resistance killing all the poor NASA moonboys.
Even after a retest of the level the moonboys got crushed like some dog snacks, before even testing the level.
Now i'll be quick for the trade setup that I will be using for a NO RISK trade with big gains :)!
If you used my previous trade setup you should allready be in profit now so good job to you precious human
1. The 12246 Short > 10900 Level (Selling 50% of my trade making this a NO RISK trade WITH BIG WINS ALLREADY)
2. I will be holding the rest for 6K-7K Region, Why I think this will play out ? (Because it is to easy, now we have leveraged trading introduced people can make BIG money very quickly, thats why they need to shake out some moonboy hands)
EXPLAINING MY THOUGHTS:
The 6K region was always in my mind, I was just searching for a way to verify it (which I did if the fib playes out).
Making money is never easy, people are just so greedy and naive thinking that bitcoin will always moon and never come back down again, and they will get burned for it !
A bullrun will eventually happen but it won't be like the other bullruns we have seen. Because of leveraged trading people can make money going up and down so thats exactly how the bullrun will commense. A slow rise with many pumps and dumps making sure to shake weak hands and new traders coming in the space.