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! On this trade, stop would be placed below the FIB support level.
thats the chart...september 25 on the 6380 level ...if you look at the 1 hour chart....at 22:00 utc time.. im not an expert but maybe that is considered a gap...what do you think..
CM_Trades
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@aknyc1, they are best seen on a 4H or higher timeframes because these contracts have low liquidity so they cause gaps a lot. Higher timeframes remove some of the noise and give clearer picture.
aknyc1
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@Crypto_Terminal_Chris, however on the 1 hour according to the chart is that still considered a gap?
aknyc1
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@aknyc1, because if you look at the 1 hour on 6650 that is a clear gap..i know the smaller time phrase may creat more noise but due to manipulation in the markets i have been realizing that the smaller time frames can actually paint the correct picture as big money players know traders dont like to look at smaller time frames.. its the way i was able to spot the 8475 top in the last rally as there is activity hidden in 15-30 minute candles that to many traders is just noise ...so just let me know if you think on that 1 hour its a possible gap because it can be
aknyc1
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@aknyc1, also crazy thing is when you see a massive dump or anyhting they can fill all gaps small time frames or big time frames..crazy thing now is that i see a gap in the 5900 area as well from a month ago in the 15 minute chart...you know the last bull market..bitcoin dunmped 100 dollars before it got started so they can possibly do something crazy like that as well..what your view on 1 hour or small time frame gaps ..even though they are noise are they still considered gaps
CM_Trades
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@aknyc1, I will give it a look tomorrow and get back to you on what you have noticed. Keep you posted!