BTC: New week - New GapNew week - new CME Gap that needs to be filled. This time it is a gap of 2%.
Last two gaps were filled:
1st one on a first day
2nd - during a week
Let's see how it goes this time.
And do not forget that gap trading can be dangerous because you can get a move to other direction, always limit your losses.
Information is just for educational purposes, never financial advice. Always do your own research.
Cmegap
CME gaps are fun...After having troubles with RL issues, I am coming back to give market updates <3
* I'm still not fully bullish, but yes it is more logical to focus on bull moves and not shorting atm (Don't go against the trend, the trend doesn't seem to weaken).
- Don't FOMO in! trade carefully... these gaps are psychological play zone, more likely to retrace a bit (Hopefully to close the lowest gap before next move up, still more likely to close the current gap)...
- Going below 10k and surpressing it again means we can start bull run from my perspective.
- Final confirmation for me for a full bull run would be OBV rise above 9700 price on some major exchanges such as: CME, Bitmex, Binance, Coinbase...
New CME gapChart made a new CME futures gap between 8765 and 8865. This gap will be closed either before the dump, or after the dump is over and price bounce above 8k. I'd prefer to see it untouched until BTC hit 8k, as this will be more bullish and promising. In case price first go up and then down, there will be less "reasons" to come back.
Bitmex/Binance has a little different numbers, but close. Zone from 8150 to 8300 represents strongest support for bullish bounce. 8000 obviously can be wicked within that move as well. If bullish bounce scenario won't happen, price may retrace further to 7555 - 7700 zone. That still leaves the big picture positive, while switching BTC into consolidation period that will take longer time to resume and build new uptrend.
CME Gap Hasn't Closed YetA bounce in the area was to be expected, but hold your horses. It hasn't closed yet.
The gap is shown on by the green shaded box.
On Bitfinex and Binance it bounced around $7675, which uncoincidentally was the gap low on CME. BUT this level has not yet been reached on CME.
In other words, many traders placed long orders around $7675, but it seems they didn't adequately compensate for the price differences between exchanges and the CME. A small gap still remains, and so does the incentive for CME to push the price back down.
CME FUTURES Gap needs to get filled!There's a CME futures gap around 7665$ 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.
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
July 4th Action & CME Gaps to Fill July 4th Action & CME Gaps to Fill
Just a few quick thoughts about our current situation... as always not financial advice, DYOR, etc!
I think the chart write up mostly speaks for itself. Still a few CME gaps to close one above us @ 11,500-12000. I suspect we may end up in this area tomorrow.
Then on the 4th of July when CME is close we gap down. There are a few gaps below us the first one at 8500-8900, which I think we will test. Then there is another at 7200-7450 that was only partially filled.
There is a scalp long opportunity available for the near term followed by a contraction afterwards.
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