We can see BTC filled the previous gap formed when we broke way lower on the future chart
It took a few days but we did close the gap but there is still a smaller one left a little higher
We are within reach to close that gap BUT a move lower could be followed
How strong of a move lower? Time will tell but the reaction we get when we hit this next zone...
In traditional markets gaps usually get filled. Bitcoin is a 24/7/365 market, but CME trading is not following the same hours. So far most gaps have closed but there are two bullish gaps left open. If the price doesn't go near 6190 before the CME markets open again, then there will be a pretty decent bearish gap that will have to get filled eventually
Bitcoin futures have found support near the 23.6%FIB level a few times already and could be set to move back up to the top of channel, which coincides with the 50%FIB giving us a nice target to aim for. Any break higher from there could send us to $7000 fairly quickly.
MACD and RSI are both looking bullish and have room to run above before needing to cool off!...
How bitcoin can be traded using Exponential moving averages and moving averages. Why do Ema's and Ma's work ? Because they are used by hedge fund bots.
Bitcoin futures have bounced nicely at support after filling the gap previously mentioned and has begun to move higher again. We moved up sharply to the trendline and backed-off below the long-term 23.6%FIB level and remains stuck in the channel. After yesterday's heavy selling and BTC remaining supported, we could expect a move higher to the top of the channel...
Short BTCUSD -2.16% @ 6425 or BTC1! 0.79% at 6365
RSI3 crossed below 80 level and stochastic cross occurred.
Main trend is down as price is below MA50 and MA200.
As expressed yesterday, the gap left on CME futures would most likely get filled sooner rather than later and that's exactly what happened overnight. After rejection near the 50%FIB level, Bitcoin in the overnight session came down and closed the gap at around $6420 and seems to be finding temporary support around this POC. This is a strong support area for...
BTC futures was able to break above the channel/bearflag last week but was rejected at the 50%FIB of the recent down move and sent back down into the channel. However, before everyone gets excited for a move higher, there is an unfilled gap in price at around $6420 and every time there has been a gap in price on Bitcoin futures they have been filled somewhat...
