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 … In 77% of these cases, Bitcoin made a retracement in the subsequent week. 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.” “Virtually all the moves are actually retraced before next Friday market close,” it said. Anja van Oosterhout | Aug 14, 2019 | 08:00. In that case, this will be the first CME gap on the remaining daylight. And since the launch of Bitcoin futures in Dec. 2017, these gaps filled 95% of the time. So far, the longest it has taken to close a CME gap completely was 359 days, where a gap from 11,675 USD to 11,795 USD that appeared on August 12, 2019 was filled after 359 days on August 5, 2020. Willy Woo, a prominent on-chain analyst, isn’t convinced Bitcoin will fill the existing gap around $9,600. 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 … 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). Source: TradingView. As the new Bull Market progresses, Bitcoin has left few questions unanswered. ... a bearish breakout below $10,000 will take BTC down to $9,600 to fill the CME gap. After a massive 42% price spike starting on Oct. CME Bitcoin Futures Chart Posts Another Gap to Fill Near $8,900 Every investment and trading move involves risk. 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. CME Bitcoin gaps chart. “I'd say there's a fair chance this CME gap may not get filled, so far it's been front-run for liquidity. Some traders believe that the price could fill unfilled gaps on CME Group’s Bitcoin Futures chart with an upward trajectory toward $18,000. Yesterday, Bitcoin [BTC] gained 13.4% on the spot exchanges as the price a formed high at $8900 on spot exchanges. Bitcoin futures records the largest gap on CME of about $3,000. A dramatic reversal on Monday sees BTC/USD instantly fill the latest CME futures gap before bouncing off forecast levels below $28,000. Several optimistic news emerged... 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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 Bitcoin suffered a seven percent correction on Wednesday, falling to as low as $17,620 across various exchanges. The Bitcoin (BTC) price has risen steadily in recent weeks, reaching a new high of around $ 57,500 on February 20th. 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 … The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. 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. You should conduct your own research when making a decision. 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. Identity is something that many of us take for granted. There is one newly formed CME gap that BTC may have to fill before it can see any further momentum. “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. 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. Pick up each drop. Gap 1 at $8540, which occurred during the first weekend on a bullish break-out. But since Bitcoin doesn’t stop trading on other exchanges, this could be trickier in the cryptocurrency world. 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. Currently as of writing this article BTC is being traded at $11,000. 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 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. 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.”. 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.”. 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. The question rises if BTC will dip to fill the gap as it has done numerous times before. Other gaps’ general rules of thumb might include: Bitcoin’s fast and furious drop below $11,000 has left many traders wondering whether the CME gap at $9,700, would finally get filled. Each BTC cycle is divided into 5 phases: * After each All Time High (ATH) and market top the price … 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. BTC/USDT daily chart. CME gap-fill $17000 looms after Bitcoin price closes below key moving average December 10, 2020 Bitcoin. “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. 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. Every dip snapped up. Gap 2 at $8935, which occurred during daily closing hours on CME. Bitcoin may sink to just above $8,000 in the short term in order to keep in line with its … Share. Tweet on Twitter. Share. Share on Facebook. According to a number of analysts, this gap-fill now means that Bitcoin is cleared for takeoff. Source: TradingView. Email. Share. 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. Traders mind the gaps often. 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. Top 5 cryptocurrencies to watch this week: BTC, ETH, XRP, LTC,... Bitcoin’s recent correction could be retail-driven, Nexo CEO speculates. Bitcoin futures on the Chicago Mercantile Exchange (CME) have recorded the largest price gap to date of about $3,000. On average, it took 13.9 days to close a CME gap. Moreover, while the strong positive closing rekindles bullish spirits, there are two bearish gaps looming on the daily charts. But let's take this from the beginning. Bitcoin’s weekend price action left another CME gap around $8,900 as the crypto asset continues to consolidate. 144. 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. 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. Over the history of BTC the gaps tend to fill something like 95% of the time. 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. Here we can see that this weekend’s gap clocks in at approximately $4,000 per coin. Gap Analysis. By admin - September 11, 2020. 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. He said that only a severe occurrence could drop bitcoin to $24,000, which is the site of a ‘gap’ in bitcoin futures markets left from December. 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. 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. 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. BTC/USDT 4-hour chart. 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. Bitcoin Price ‘Will Fill’ $8.4K Futures Gap, Says Crypto Analyst. Why Wall Street FOMO will make $20K Bitcoin look cheap, Bitcoin price at $16K and beyond? Bitcoin (BTC) lost $30,000 support on Jan. 4 as all-time highs gave way to a rapid retracement totalling thousands of dollars. Excluding same-day fills, it took 23.6 days on average to fill a CME gap. Experts forecast that Bitcoin could fill the resulting CME gap at $17,000. While the bitcoin price found weak support around $ 10,100, the price could not hold above $ 10,500, and a number of analysts continue to fear that the CME gap of $ 9,900- $ 9,650 remains a threat. ... 2020, BTC filled the gap … In the Bitcoin market, gap filling is one of the most popular strategies around CME downtime. 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. 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. After falling 17.5% to a monthly low of $ 9,817 last week, Bitcoin (BTC) has returned to … By Oren Rofman. Bitcoin is currently trading at $10,560 after a notable price rejection from $10,800. If so it'll be the first CME gap on daily candles that remains unfilled.”. Speculating about the bitcoin price gap is popular with some investors because the gaps often fill, although not immediately. available “. Bitcoin has filled the gap on the CME at $17,620 following a 7% correction that was spurred from a lack of bullish momentum to the upside Oliver Knight December 9, 2020 Watch the gap. 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. Save my name, email, and website in this browser for the next time I comment. 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. From a technical point, when a significant gap appears, it removes the immediate support or resistance, and the gap is more likely to fill. 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. It attempted to partially fill it but we still need to see another move down to fill the gap completely. 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. The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors, Sports fans can trade ‘fractional NFTs’ based on real-life sports statistics, The Blockchain Paradox: Decentralization Through Centralized Institutions, Why Cryptocurrency Is More Than a Hedge Against US Dollar Inflation, 3 key indicators suggest Bitcoin price is preparing to retest $11,000, Top traders go long after Bitcoin price rallies to key $11.5K resistance, mentioned by Cointelegraph contributor Rakesh Upadhyay, CME gap being used as a technical analysis indicato, Value DeFi protocol suffers $6 million flash loan exploit, ‘Stealth phase’ over? 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. 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. 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 “Filling the gap” is the process that happens once the price retraces nearly to where the gap previously formed and causes the price to suddenly spike or crash between the two price points. People usually refer to CME gaps during and after the weekends. Bitcoin price at risk of CME gap-fill unless $10.5K flips to support. 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. 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. Bitcoin (BTC) Could Be On a Path to Fill a CME Gap at $9,700. Tweet. 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. 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 … Nevertheless, the high of the day was fairly Earlier in the day, analyst Willie Wu shared the opposite view, suggesting that the CME gap would not be closed this time. Do you think we have a gap fill coming this week? The price of Bitcoin left a gap over the weekend which has still not been filled. Concordium CEO On How Blockchain Can Fill the Identity Gap for One Billion People.