Categories: Bitcoin Business

CME Futures Gaps Pile Up, Which Will Bitcoin Price Fill Next?

Click here to view original web page at www.newsbtc.com

Bitcoin price is closing in on $11,000 after a period of extreme volatility. Last week, the crypto asset fell below $10,000 in what many are calling a bear trap, and quickly bounced from lows around $9,400 back up the current price of $10,900 where it is currently trading.

Along the way back up, yet another CME Future gap was created, making four total gaps that are just waiting to be filled. With the leading crypto asset trending up once again, which CME Futures gap will Bitcoin end up filling next?

Unfilled CME Futures Gaps Could Help Predict Bitcoin Price Action

The crypto community is often torn over CME Future gaps and their significance in Bitcoin markets. Many believe that these gaps always get filled, and Bitcoin price cannot move onto its bull run without first filling the CME Futures gaps left lower from how fast the asset had risen after it left its bear market bottom behind.

According to crypto analyst CastilloTrading, there are now four CME Futures gaps that exist on Bitcoin price charts, each just sitting waiting to be filled by more recent price action.

$BTC CME Futures Gap *UPDATE*

New gap has been created from $10,400-$10,100. No gaps have been filled in over two weeks, shows that recent PA how been fairly weak.

>$11,950-$11,700
>$10,400-$10,100
>$9,000-$8,500
>$7,200-$7,450

Always good to keep an eye on these levels.$BTC pic.twitter.com/sqwL17m1MH

— Castillo Trading (@CastilloTrading) September 6, 2019

One CME Futures gap was due to the most recent Labor Day weekend rally, between $10,100 and $10,400. Due to the close proximity to current price action, this could be the most likely target to get filled. Holidays, like Labor Day, have been statistically shown to result in strong price action and rallies – exactly what occurred this past holiday weekend.

Below current prices, lies two CME Future gaps: one between $8,500 and $9,000 – a target that many have been watching as a place buyers are waiting to buy the dip – and another between $7,200 and $7,450.

Above here, the next highest gap would be between $11,700 and $11,950. Should Bitcoin price take out the higher target, it is unlikely that Bitcoin price will ever return to fill the lowest gaps, as a break above $11,300 would take Bitcoin up out of its symmetrical triangle and resume its bull run. The symmetrical triangle target would take Bitcoin price to a new 2019 high, breaking above $13,800 where it was rejected from back in June.

Such a powerful example by bulls would likely reassure the market that Bitcoin’s bull run is back on, and cause serious FOMO that would propel Bitcoin price to set a new all-time high and send the asset parabolic once again.

Gaps are often left on charts after extremely powerful moves that occur after trading sessions have closed, for example, on weekends or holidays. This is exacly what happened recently with Bitcoin price, leaving the fourth gap on CME Futures price charts. Gaps like the ones on Bitcoin price charts are more commonly found in speculative assets like BTC and other crypto-assets.

Tags:bitcoinbitcoin priceCME futurescryptogaps BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Watford FC to brand Bitcoin logo on the jersey

The initiative is being carried out as a part of a brand partnership with sports betting site Sportsbet.io. Sportsbet.io's marketing… Read More

5 hours ago

Latest Bitcoin price and analysis (BTC to USD)

At the time of writing, Bitcoin (BTC) is trading at just above $10,300 after gaining about 1% since last week.BTC… Read More

5 hours ago

Johnstone: How To Defeat The Empire

Authored by Caitlin Johnstone via CaitlinJohnstone.com, One of the biggest and most consistent challenges of my young career so far… Read More

5 hours ago

Today’s Bitcoin Drop Driven by Massive Volume Influx

Bitcoin has been facing a bout of sideways trading for the past several days, but today’s drop to below $10,200… Read More

5 hours ago

L.A. to Choose Blockchain Pilot Project at CIS Conference

With a growing interest in blockchain solutions for government, the city of Los Angeles has partnered with organizers of a… Read More

5 hours ago

Bitcoin’s heading to a new all-time high along with the S&P 500, says Fundstrat’s Tom Lee

watch nowTalk about a bitcoin bull case.The digital currency is headed to new record highs, says Tom Lee, co-founder, managing… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More