BTC Weekend Trading Opportunity: Gap Boiz Watcha Gonna Do?Almost immediately after CME closed at Friday's bell, the weekend fackery began!
Bitcoin saw a steep decline off current resistance from $8500 and is picked up at support above $8200.
BTC currently trading above $8300. Without 4h closures below $8200 this weekend, look for a gap fill come Sunday/Monday/Tuesday/(?) when the real traders take the helm.
At this moment, three things are likely to happen...
1. Price action ranges through the weekend and ends up on the upper end of the range and no gap is created on opening bell at CME on Sunday. (Go long from here)
2. Price action ranges and ends on the lower end of the range. A gap is created, then filled sometime in next weeks trading. (Go long from here)
3. BTC takes a deep dive from here and no gap fill (4h candle closes below $8200 leads to continued macro downtrend). (Short after confirmation of $8200 break)
And yes, of course BTC can rocket past CME close before the weekend is over to create a gap to the upside, but based on current price action a movement like that is possible, but unlikely. If you see 4h closures above $8500 or (4H 21 exponential) and you are not already long, you might consider to do so.
People ask "What is the significance of CME Futures contracts?". The reason why CME trading has significance is due to the fact that this is where the experienced, traditional traders trade. Real traders do not trade on Bitmex, Binance, etc. The smart money is at and trades with CME.
So...do you take the weekend off and enjoy your life?
Or do you trade for a gap fill from the current range?
Alway be prudent with your trades!
Plan before you trade.
Know your entry.
Know your take profit area.
Use a stop loss.
Understand the amount you are risking.
Do not over leverage.
Happy trading to all!
Let's be rich with ideas, love and happiness beyond all monetary value.
💡❤️😃🙏 > 💵
Novelty use only. This is not financial advice.
