Hi Traders!
After many weeks of nothing happening, the ices finally broke last week and Bitcoin made a decision and went up. We are currently balancing at $ 11,000. Today, however, I wouldn't like to do a traditional analysis of Bitcoin, but I would like to point out one fundamental thing that isn't much discussed.
CME futures is a US stock exchange where Bitcoin is traded. As this is a classic stock exchange, it is common for its gates to be closed over the weekend. However, as you know, cryptocurrencies are also traded over the weekend. If Bitcoin price on the crypto exchanges moves more significantly over the weekend, the CME futures exchange with a "gap" will open on Monday morning. The GAP gives us a price "gap". Why is this important? GAP on CME futures mostly acts like a magnet and in the end it can attract the price. This usually happens in two cases:
1. The GAP shall be completed on the given week of its opening. That would mean we're going under $ 10,000 again this week.
2. The GAP is filled in only after the completion of a certain cycle on Bitcoin. It can be a week, but even a month.
CME futures GAPs act as a magnet for the price and in the vast majority they get used to pulling it back. Will it be the same now?
May the crypto be with you!
After many weeks of nothing happening, the ices finally broke last week and Bitcoin made a decision and went up. We are currently balancing at $ 11,000. Today, however, I wouldn't like to do a traditional analysis of Bitcoin, but I would like to point out one fundamental thing that isn't much discussed.
CME futures is a US stock exchange where Bitcoin is traded. As this is a classic stock exchange, it is common for its gates to be closed over the weekend. However, as you know, cryptocurrencies are also traded over the weekend. If Bitcoin price on the crypto exchanges moves more significantly over the weekend, the CME futures exchange with a "gap" will open on Monday morning. The GAP gives us a price "gap". Why is this important? GAP on CME futures mostly acts like a magnet and in the end it can attract the price. This usually happens in two cases:
1. The GAP shall be completed on the given week of its opening. That would mean we're going under $ 10,000 again this week.
2. The GAP is filled in only after the completion of a certain cycle on Bitcoin. It can be a week, but even a month.
CME futures GAPs act as a magnet for the price and in the vast majority they get used to pulling it back. Will it be the same now?
May the crypto be with you!