Here is the Friday CME daily candle close for the week and where gaps may appear when and if BTCUSD daily candle close on Sunday goes higher than the CME High price 7100 ( bearish gap) or if the daily candle close on Sunday is lower than the CME Low price 6625 ( bullish gap). If you are a bull, lets hope that the weekend action does not go higher than 7100. Then there is a possibility that we can move higher from Monday onward to target the nearest CME gap to fill from 8825 to 9155 that was created on the weekend of 7th to 8th March.
There are many who are asking for much lower prices indicating that whales want to take out as many longs by liquidating them and getting their stop losses at lower prices indicating that exchanges will be more profitable that way but exchanges will also be wary of the fact that there are plenty of limit long orders parked at lower prices that they have pay out to if prices go that low and start bouncing and when reversal happens. The exchanges will have to pay out for even more profits gained by these low long limit orders when price bounces and reverses. So there are 2 ways to look at it.
At the moment I am currently:
Short-term: Neutral to Slightly Bullish
Mid-term: Bullish
Long-term: Bullish
This is just to make it easier for those who do not know how to look for the gaps on Mondays after Sunday daily candle close. Do not base your trading solely on CME candles. Look for patterns to support your trade as well otherwise it is still a very risky trade. I do not like CME gaps. Noone can provide an explanation that makes sense. There is actually no reason technically nor even fundamentally why gaps must be filled. Just use it as an additional guide or point together with your Technical Analysis , Price Analysis and Fundamentals.
Try not to trade on weekends because its usually when volume is low and the manipulators have easier control of price movements.
Just sharing an observation. Trade only what you can afford to lose as nothing is 100% in life, ever. Have a great weekend and stay safe.
Here is the CME Bitcoin Futures Chart.
There are many who are asking for much lower prices indicating that whales want to take out as many longs by liquidating them and getting their stop losses at lower prices indicating that exchanges will be more profitable that way but exchanges will also be wary of the fact that there are plenty of limit long orders parked at lower prices that they have pay out to if prices go that low and start bouncing and when reversal happens. The exchanges will have to pay out for even more profits gained by these low long limit orders when price bounces and reverses. So there are 2 ways to look at it.
At the moment I am currently:
Short-term: Neutral to Slightly Bullish
Mid-term: Bullish
Long-term: Bullish
This is just to make it easier for those who do not know how to look for the gaps on Mondays after Sunday daily candle close. Do not base your trading solely on CME candles. Look for patterns to support your trade as well otherwise it is still a very risky trade. I do not like CME gaps. Noone can provide an explanation that makes sense. There is actually no reason technically nor even fundamentally why gaps must be filled. Just use it as an additional guide or point together with your Technical Analysis , Price Analysis and Fundamentals.
Try not to trade on weekends because its usually when volume is low and the manipulators have easier control of price movements.
Just sharing an observation. Trade only what you can afford to lose as nothing is 100% in life, ever. Have a great weekend and stay safe.
Here is the CME Bitcoin Futures Chart.
