It is a long weekend with public holiday today (Friday). Here is the Thursday 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 7415 ( bearish gap) or if the daily candle close on Sunday is lower than the CME Low price 7090 ( bullish gap). If you are a bull, lets hope that the weekend action does not go higher than 7415. 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.
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.
At the moment I am currently:
Short-term: Neutral to Slightly Bullish
Mid-term: Bullish
Long-term: Bullish
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.
Here is the CME Bitcoin Futures Chart.
Also wanted to share that ETHUSD is forming a possible bull flag pattern on the daily chart. Possible breakout trade on Monday onward if within that time resistance has turned to support with confirmation candle(s).
Good luck, stay safe and have a great weekend!
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.
At the moment I am currently:
Short-term: Neutral to Slightly Bullish
Mid-term: Bullish
Long-term: Bullish
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.
Here is the CME Bitcoin Futures Chart.
Also wanted to share that ETHUSD is forming a possible bull flag pattern on the daily chart. Possible breakout trade on Monday onward if within that time resistance has turned to support with confirmation candle(s).
Good luck, stay safe and have a great weekend!
