Earlier in the day, on-chain analyst Willy Woo shared an opposing point of view, suggesting that the CME gap will not be filled this time. Since dropping 17.5% to a monthly low at $9,817 last week, Bitcoin (BTC) price has bounced around in what appears to be a tightening range between $9,800-$10,60 Bitcoin price at risk of CME gap-fill unless $10.5K flips to support - BitcoinSlate.com Each BTC cycle is divided into 5 phases: * After each All Time High (ATH) and market top the price … Tweet. Bitcoin may sink to just above $8,000 in the short term in order to keep in line with its … As the new Bull Market progresses, Bitcoin has left few questions unanswered. Since dropping 17.5% to a monthly low at $9,817 last week, Bitcoin (BTC) price has bounced around in what appears to be a tightening range between $9,800-$10,600. But let's take this from the beginning. ... a bearish breakout below $10,000 will take BTC down to $9,600 to fill the CME gap. The Bitcoin (BTC) price has risen steadily in recent weeks, reaching a new high of around $ 57,500 on February 20th. However it left a gap at $9600. CME gap-fill $17000 looms after Bitcoin price closes below key moving average December 10, 2020 Bitcoin. Share. After a massive 42% price spike starting on Oct. CME Bitcoin Futures Chart Posts Another Gap to Fill Near $8,900 Bitcoin price is finding support at $10.1K but the threat of the CME gap and resistance at $10.5K continue to weigh on trading sentiment. BTC/USDT daily chart. Looking back to May through late-June we can see that $9,900 functioned as a stiff level of resistance and the recent correction back to this zone has tested the level as support, which so far is holding. Source: TradingView. Willy Woo, a prominent on-chain analyst, isn’t convinced Bitcoin will fill the existing gap around $9,600. Pick up each drop. Bitcoin price is finding support at $10.1K but the threat of the CME gap and resistance at $10.5K continue to weigh on trading sentiment. People usually refer to CME gaps during and after the weekends. For those of you who expressed concern last week when we didn’t fill the gaps created by the CME futures contracts, it should comfort you to know that the massive gap from this past weekend has already been filled by the market. Despite Bitcoin price finding soft support around $10,100, the price has been unable to hold above $10,500 and a number of analysts remain cautious as the CME gap at $9,900-$9,650 remains a threat. If so it'll be the first CME gap on daily candles that remains unfilled.”. On average, it took 13.9 days to close a CME gap. One Bitcoin gap exists at $9,600, when BTC suddenly broke out in late July and early August in a rally that took the coin to $12,000. One trader is pointing to this level as a short-term pullback target, noting that a rebound here could catalyze a serious upswing that drives Bitcoin past the resistance it is currently struggling to surmount. Moreover, the top also filled a month old CME gap which was recorded on the week of the ‘Black Thursday’ crash.. BTC/USD Futures Daily Price on CME (TradingView)A derivatives and crypto traders, CryptoFibonacci, noted on about the next gap … Experts forecast that Bitcoin could fill the resulting CME gap at $17,000. available “. Gap 1 at $8540, which occurred during the first weekend on a bullish break-out. Also, NewsBTC’s analysis has found that at the exact same time the CME’s future plummeted, the price of Bitcoin slipped on spot exchanges, albeit on a much smaller magnitude — $100 on spot exchanges compared to $1,000 for the futures. After Bitcoin has fluctuated in the price range of $18,500 and $19,500 over the last few days, the price broke through the important support level of $18,500 a few hours ago and stands at … The Gap The CME chart has a rather large gap down at 23k as you can see in the chart above in the golden box. Gap 2 at $8935, which occurred during daily closing hours on CME. Bitcoin price at risk of CME gap-fill unless $10.5K flips to support. Looking back from May to the end of June, we see that $ 9,900 was a reliable level of resistance, and that the recent correction in this area tested the level of support that still holds to this day. Bitcoin being the uncorrelated asset of the bunch would fill in a gap left by COVID-19, “In our view, central banks globally are running out of ammunition to satisfy market concerns as a result of COVID-19 and this leaves a substantial gap in the market for assets such as Bitcoin that can have a non-correlated and decentralised value proposition.” A ‘CME gap’ refers to a phenomenon in which Bitcoin markets make a sharp, sudden move outside of regular trading hours for CME’s Bitcoin futures markets, which results in a literal hole or ‘gap’ in Bitcoin price charts. In the meantime, the drop to $27,700 fills the gap created on CME Bitcoin futures markets over the past weekend; that is a classic move that had been absent from the previous weeks. One of those has to do with its historic tendency to touch the 0.17 Fibonacci retracement level before the Halving during its 2nd accumulation phase. Gap Analysis. From a technical point, when a significant gap appears, it removes the immediate support or resistance, and the gap is more likely to fill. In the Bitcoin market, gap filling is one of the most popular strategies around CME downtime. The Volume File Visual Range (VPVR) indicator also shows buying interest at $ 9,962, which is in line with long low weeks in the previous daylight when buyers bought at a fall below $ 10,000. Why Wall Street FOMO will make $20K Bitcoin look cheap, Bitcoin price at $16K and beyond? Moreover, while the strong positive closing rekindles bullish spirits, there are two bearish gaps looming on the daily charts. Bitcoin futures records the largest gap on CME of about $3,000. “There is a CME gap at $9800”, “Bitcoin is about to make a huge gap on the CME chart”, “gap has been filled” and so on. In that case, this will be the first CME gap on the remaining daylight. An encouraging first step would be to see a 4-hour or daily candle close above $10,500 alongside a sustained increase in buy volume. Looking at the chart above, we can see that a number of gaps have already been filled over the past 6 weeks – including the $760 gap from May 10-12, and the more recent $500 gap … There’s also a VPVR gap from $10,500 - $11,300 so things could heat up quickly if bulls manage to catalyze a high volume surge through $10,500. Share. After spending the last few days trading in a tightening range, Bitcoin (BTC) price dropped from its pennant structure and closed below the 20-day moving average ($18,600). It attempted to partially fill it but we still need to see another move down to fill the gap completely. Earlier in the day, analyst Willie Wu shared the opposite view, suggesting that the CME gap would not be closed this time. Traders mind the gaps often. After falling 17.5% to a monthly low of $ 9,817 last week, Bitcoin (BTC) has returned to a narrow range of $ 9,800 to $ 10,600. The gap was set on the 27th of July and resulted in Bitcoin breaking the $10k ceiling, eventually breaking $11k and $12k in the days that followed. After falling 17.5% to a monthly low of $ 9,817 last week, Bitcoin (BTC) has returned to … Tweet on Twitter. “Virtually all the moves are actually retraced before next Friday market close,” it said. The digital asset has yet to establish a clear pattern of daily higher lows and lower highs but as mentioned by Cointelegraph contributor Rakesh Upadhyay: “The long tail on the candlesticks of the past five days shows that the bulls have been buying at lower levels but they have not been able to push the price above the top of the range at $10,625, which suggests that demand dries up at higher levels.”. “I would say that there is a high probability that this gap on CME cannot be closed, until now it was the leader when it comes to liquidity. There is one newly formed CME gap that BTC may have to fill before it can see any further momentum. The price of Bitcoin left a gap over the weekend which has still not been filled. Watch the gap. The question rises if BTC will dip to fill the gap as it has done numerous times before. The volume profile visible range (VPVR) indicator also shows buying interest kicking in right at $9,962, which is aligned with the long lower wicks on the previous daily candles where buyers bought into dips below $10K. And since the launch of Bitcoin futures in Dec. 2017, these gaps filled 95% of the time. Other gaps’ general rules of thumb might include: Here we can see that this weekend’s gap clocks in at approximately $4,000 per coin. Nevertheless, the high of the day was fairly By Oren Rofman. Anja van Oosterhout | Aug 14, 2019 | 08:00. 0. Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC,... Bitcoin’s recent correction could be retail-driven, Nexo CEO speculates. Bitcoin is currently trading at $10,560 after a notable price rejection from $10,800. Bitcoin (BTC) Could Be On a Path to Fill a CME Gap at $9,700. 144. Every dip snapped up. Every investment and trading move involves risk. The daily and 4-hour time frames show that RSI is bouncing off oversold territory and entering the 1950s, but the low purchase volume on the 4-hour chart shows that there is still a lot of work to do. A dramatic reversal on Monday sees BTC/USD instantly fill the latest CME futures gap before bouncing off forecast levels below $28,000. Currently as of writing this article BTC is being traded at $11,000. 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Here are the bear and bull cases, Law Decoded: Of AML and appointees, Nov. 6–13, Blockchain voting is the alternative for trusted democratic elections. Posted on January 19, 2021. Since dropping 17.5% to a monthly low at $9,817 last week, Bitcoin price has bounced around in what appears to be a tightening range between $9,800-$10,600.The digital asset has yet to establish a clear pattern of daily higher lows and lower … It appears that if BTC/USD were to fall again to fill the gap, it would have to break below a key trend line support. But since Bitcoin doesn’t stop trading on other exchanges, this could be trickier in the cryptocurrency world. November 19, 2019 After a brief period of consolidation within the mid-$8,000 region, Bitcoin’s bears have once again prevailed over bears, sending the crypto reeling as low as $8,000 before it found some support that helped its price climb back towards $8,300. In 77% of these cases, Bitcoin made a retracement in the subsequent week. Share. Bitcoin’s weekend price action left another CME gap around $8,900 as the crypto asset continues to consolidate. Either way, these gaps seem incredibly accurate, which means the latest gap formed between $17,295 and $18,275 is most likely bound to be filled. ... 2020, BTC filled the gap … By admin - September 11, 2020. While the accuracy of the CME gap being used as a technical analysis indicator often comes under some scrutiny Bitcoin’s inability to flip the $10,500 level to support does raise concern. Do you think we have a gap fill coming this week? Bitcoin (BTC) lost $30,000 support on Jan. 4 as all-time highs gave way to a rapid retracement totalling thousands of dollars. Save my name, email, and website in this browser for the next time I comment. Some traders believe that the price could fill unfilled gaps on CME Group’s Bitcoin Futures chart with an upward trajectory toward $18,000. Concordium CEO On How Blockchain Can Fill the Identity Gap for One Billion People. “I'd say there's a fair chance this CME gap may not get filled, so far it's been front-run for liquidity. Speculating about the bitcoin price gap is popular with some investors because the gaps often fill, although not immediately. CME Bitcoin gaps chart. Identity is something that many of us take for granted. Bitcoin price is finding support at $10.1K but the threat of the CME gap and resistance at $10.5K continue to weigh on trading sentiment BTC $15,892 ETH $459 Yesterday, Bitcoin [BTC] gained 13.4% on the spot exchanges as the price a formed high at $8900 on spot exchanges. Several optimistic news emerged... FTX CEO: SushiSwap probably wasn’t a ‘long-planned heist’, BTC locked in DeFi increased by 20x the entire Lightning Network this week, Bitcoin price must now hold above these levels to break $60K, Data show bulls are in charge of this month’s $3.2B Bitcoin options expiry, Bitcoin’s market cap breaks $1 trillion after tripling in three months, Bitcoin skeptic debates Bloomberg analyst in latest Cointelegraph Crypto Duel, Elon Musk says BTC, ETH prices “high” while dunking on Peter Schiff, Bitcoin whale clusters pinpoint $44,214 as the key near-term price level. There is also a VPVR deficit of $ 10,500-11,300, so the situation could quickly escalate if the Bulls can cause a significant increase in size to $ 10,500. While the accuracy of the CME gap used as a technical analysis indicator is often subject to some scrutiny, Bitcoin’s inability to reverse the $ 10,500 level to support it is worrying. Bitcoin suffered a seven percent correction on Wednesday, falling to as low as $17,620 across various exchanges. The first hopeful step is to see the end of the 4-hour candlestick or the daily closing above $ 10,500, along with a continued increase in purchase volume. You should conduct your own research when making a decision. Bitcoin Price ‘Will Fill’ $8.4K Futures Gap, Says Crypto Analyst. Share on Facebook. Good morning traders, As we're going into the weekend I wanted to make a quick post regarding the Bitcoin CME future's chart, dates, and certain key levels within that for Q1 2021. Bitcoin futures on the Chicago Mercantile Exchange (CME) have recorded the largest price gap to date of about $3,000. Source: TradingView. The daily and 4-hour timeframe shows the RSI bouncing from oversold territory and pushing into the 50s but the declining purchasing volume on the 4-hour chart shows there’s still plenty of work to be done. BTC/USDT 4-hour chart. The digital asset has not set a clear pattern of high daily lows and lows, but as Cointelegraph contributor Rakesh Ubadhyay put it: “The long tail of the lights over the last five days shows that the bulls bought at lower levels, but failed to push the price above the upper end of the $ 10,625 range, indicating that demand at higher levels is shrinking.”.