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!!! $BTC LOSING THE SUPPORT TRENDLINE! - CME GAP NEXT? !!!price action has been shit lately bitcoin is losing the lower channel of the parallel channel it had been forming since the start of 2021 on the weekly timeframe, which has been a big support in the past weeks if the breakout is confirmed and we close this 1W candle (only 8 hours to go) below that, I think we might see a bear market for the next few weeks rsi is about 32 on the 1D timeframe and 38 on the 1W timeframe, which shows us we have a lot of room for a huge fall to the downside I think the price is going to fill the CME gap @ 26K which I highlighted on the chart, it would be a huge drop, but I think that's what's going to happen since CME gap are almost always filled and this one has been waiting to get filled since December 2020 let me know what you think about this! and drop a like and follow if you enjoyed this idea or you found it helpful!
Long
by opop777
Filling CME Gap at 45K- Bearish for BITCOIN for whileThe Bitcoin CME gap, also called the “CME gap” for short, is the difference between the trading price of Bitcoin futures contracts when the market opens on Sunday, and when it closes on Friday. Unlike cryptocurrencies, traditional assets do not trade 24/7 around the clock. Most traditional exchanges follow normal working hours and close on holidays, and the CME is no exception to this! While you can trade on Binance for example at any given time, the CME Bitcoin futures trading opens from Sunday evening until Friday evening (Central Time). From Friday to Sunday, the Bitcoin CME futures price is “fixed”, while Bitcoin’s price continues to move up (or down) on cryptocurrency spot exchanges. When the CME futures re-open, futures contracts catch up with spot prices, creating a gap! Bitcoin CME gaps have often been known to “fill” . Previously and normally all CME gaps has been filled, check CME gaps before in the graph. Now in March 28, we have a gap in 45K $ area and we saw a valid bearish divergence in 1hr TF. This shows that both signals is already confluence and might happen anytime soon to "FILL THE CME GAP". Using the FIB, retracement can be at 0.5 or 0.618 before the bullish trend in higher TF continues. Please use this as a guide only and make your own Technical Analysis.
CME:BTC1!Short
by ridenz77
5
BTC Bitcoin CME Gap DiscussionHello friends, I am showing you the CME gaps I circled for Bitcoin (BTCUSD) on a 1D linear chart that I was able to spot. The CME gap is the difference between the trading price of a CME bitcoin futures contract when the market closes on Friday and opens on Sunday. The reason I am showing this chart is because though CME gaps are formed, the price tends to get back to that gap and fill it at some point. Since price is near certain prior gaps, there may be a chance the CME gap gets filled. Not everyone believes in CME gaps, but this is another metric to review when looking at Bitcoin and the crypto markets. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
CME:BTC1!
by MillionaireEconomics
9