Hey everyone. Hope everyone is doing good. I have an idea here I was going to make an idea about this CME gap earlier this week (think I at least mentioned it in one of my charts) but NOW I think it is more relevant to the current situation so here we are.
To fill the CME gap we would need to drop to $61,345. This COULD be a good area for a limit buy although I think paying close attention to the charts and making sure there is a bounce would be a little more preferred along with a market buy. A SAFER ENTRY would be after BTC gets above the red resistance area.
As you can see on the chart, There IS SOME BEARISH DIVERGENCE on the RSI to support this IDEA as well.
IF BTC does fill the CME gap but the bounce is weak, then we could see something similar to the RED LINE play out where BTC heads back down to the SUPPORT at 58K. If this situation happens we would need to re-evaluate from there.
THIS IDEA WOULD BE INVALIDATED IF BTC GETS ABOVE THE RED RESISTANCE WITHOUT FILLING THE CME GAP.
Also, don't forget since this is the CME futures chart, Hitting the "play" button over the weekend is not going to be to helpful (In case you haven't had your coffee yet lol)
Well I'm going to keep this one rather short. Hope you guys like the idea or at least find it interesting! If so, please LIKE, SHARE, FOLLOW, and COMMENT. I will keep you guys updated as often as I can although I have been a little more busy lately than usual.
I FOUND A GOOD ARTICLE EXPLAINING WHAT A CME GAP IS although I cant post the link here so CHECK MY TWITER, The button is below!
*** As always, this is NOT financial advice. This is an IDEA based off of my experience trading and studying cryptocurrencies. Always do your own research before trading or investing.***
To fill the CME gap we would need to drop to $61,345. This COULD be a good area for a limit buy although I think paying close attention to the charts and making sure there is a bounce would be a little more preferred along with a market buy. A SAFER ENTRY would be after BTC gets above the red resistance area.
As you can see on the chart, There IS SOME BEARISH DIVERGENCE on the RSI to support this IDEA as well.
IF BTC does fill the CME gap but the bounce is weak, then we could see something similar to the RED LINE play out where BTC heads back down to the SUPPORT at 58K. If this situation happens we would need to re-evaluate from there.
THIS IDEA WOULD BE INVALIDATED IF BTC GETS ABOVE THE RED RESISTANCE WITHOUT FILLING THE CME GAP.
Also, don't forget since this is the CME futures chart, Hitting the "play" button over the weekend is not going to be to helpful (In case you haven't had your coffee yet lol)
Well I'm going to keep this one rather short. Hope you guys like the idea or at least find it interesting! If so, please LIKE, SHARE, FOLLOW, and COMMENT. I will keep you guys updated as often as I can although I have been a little more busy lately than usual.
I FOUND A GOOD ARTICLE EXPLAINING WHAT A CME GAP IS although I cant post the link here so CHECK MY TWITER, The button is below!
*** As always, this is NOT financial advice. This is an IDEA based off of my experience trading and studying cryptocurrencies. Always do your own research before trading or investing.***
Comment:
Well BTC got rejected right where I thought. Now Lets see if it heads lower to fill the CME gap and if so, what kind of bounce it takes.
Comment:
CME gap FILLED! Lets see if we can get some buying momentum here.
