Huge Open Gap on the Bitcoin CME Chart

CME:BTC1!   Bitcoin CME Futures

As you can see in the chart, there is a huge Open Gap on the CME Chart of Bitcoin between $26,000 and $24,000 dollars, and there is another between $19,000 and $18,300 dollars. To close those Gaps the price would need to go down to $24,000 for the first one, and all the way down to $18,300 to close the second one.

Previously, it closed a huge Gap between $31,450 and $29,650 dollars.

Not all Gaps get filled, but most of them does, like 90% or so. At the very least, we will close that huge Gap between $26,000 and $24,000 dollars. Meaning at the very least, I expect Bitcoin to go down to at least $24,000 dollars, if not lower.

Furthermore, the RSI indicator is deeply overbought, and the 20 and 50 Day Moving Average Indicator are far away from the current price.

Certainly, I expect we will see $24,000 dollars on Bitcoin before we see $40,000 dollars.

Not a financial advice.

Good Luck in your decisions.


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