Bitcoin is You are now trading over $ 115,000But recovery comes with a shadow that cannot be ignored. A new gap has opened on the CME Bitcoin Futures chart, and while the immediate market has risen to the top since then, this gap has the presence of It opens a declining scenario. These gaps have a history of pulling bitcoin again to fill them, and the latest has opened questions about the period when the current ups of the current upward momentum can continue.
Bitcoin opens a huge CME gap
Crusion analyst Dan Chefiro Note The social media platform X How Bitcoin opened the week with a huge CME gap that has lasted higher since the opening of futures. This gap is important, as it was some time since Bitcoin was opened with such a huge gap.
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As shown in the image of the graph below, this CME gap ranges between $ 110,000 and $ 111,300. CME futures It tends to close somewhat quickly, which means that Bitcoin is often recovered to the gap level before resuming its direction. If this happens this time, the short -term structure for bitcoin work may deteriorate into a declining momentum.
However, Daan also indicated that this gap in play should not be seen unless Bitcoin decreases to less than $ 111,000. But if this happens, the future chart may lead to decreased instant prices and the modern force turns into weakness.
What does this mean for bitcoin?
The CME gap occurs because the ExchandE Mercantile Chicago does not trade during the weekend, unlike the instant Bitcoin market, which works around the clock throughout the week. When Bitcoin makes a big movement on Saturday or Sunday, the CME FUTERES on Sunday evening is reopened at a different level from its closure on Friday, and this leaves an empty gap on the price scheme.
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It is knowledge that Bitcoin tends to fill these gaps by returning to the level of the gap before continuing in its direction. If Bitcoin is recovered to close this last gap between $ 110,000 to $ 111,000, then this will erase The recovery that paid him to $ 115,000 And return the price to the uncertain area.
According to Daan Crypto, if that will happen here, the entire structure will look very bad in the short term. However, this may be one of these very few gaps that never close or not reach after months. This is likely to be the case, unless bitcoin is broken to less than $ 111,000. A decrease less than $ 111,000 can at the end that Bitcoin loses the price of $ 110,000 again.
If Bitcoin can stay over $ 115,000 and There is enough purchase pressure, Then the gap can be ignored in the short term. The next test will be whether buyers can keep the recently found momentum and pay $ 120,000.
At the time of this report, Bitcoin is trading at $ 116,380, an increase of 1.4 % in the past 24 hours.
Distinctive photo of Pixabay, Chart from TradingView.com
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