BTC Dip Before Rise - BITCOIN CME FUTURES GAP ANALYSIS
CME gap closures are a strong indicator for BTC behaviour because the formed gaps have a chance of over 90% to be closed. We should therefore always consider CME futures gaps to be closed with a very high chance.
Current situation:
We are approaching the 20K-21K gap which is close to major support around 16,5K-17,5K area.
Expect price to dip down before we might see a trend continuation. If we won't break the low - fake break out - that will be a healthy sign since we would be forming a new higher low which is good for overall bullish market structure.
First goals:
1. There is an open gap around @ 20K-21K.
2. Another gap to the upside @ 34,5K-35K.
HAPPY TRADING! <3
Current situation:
We are approaching the 20K-21K gap which is close to major support around 16,5K-17,5K area.
Expect price to dip down before we might see a trend continuation. If we won't break the low - fake break out - that will be a healthy sign since we would be forming a new higher low which is good for overall bullish market structure.
First goals:
1. There is an open gap around @ 20K-21K.
2. Another gap to the upside @ 34,5K-35K.
HAPPY TRADING! <3