The 30M period which retraced, (corrected), completely through the gap on its way down, (red arrow, and that red candle is the same period as the gap), is not a filling of the gap. A rally up through a gap is the filling of the gap, and we see the first attempt fails, and what kind of new resistance level
or consolidation we see to resolve the failed attempt to fill the gap, (to trade above the gap), will indicate to us the greater or lesser probability that another attempt will be made to fill the gap, the gap is resistance, more precisely, the top of the gap is resistance, and the passing of the top of the gap would the the filling of the gap, and we might rally up after the gap is filled. Retracing in a failed attempt to fill the gap without breaking the bottom of the gap is bullish
, breaking down below the low put in after the gap is bearish
. Sustained trading, or consolidation in the gap would be neutral to bullish
. Setting higher lows while retracing under the gap and then trading up through the gap, to fill it, could be seen as bullish
, constantly testing the resistance at the top of the gap, with higher lows on the retrace to re-attempt to fill the gap.
As this now appears to be an exhaustion gap, near the top of a reversal of a long term trend down, we may correct below the gap again, and fill, or not, and then fill the gap, and then retrace below, or back into the gap, and trade up through it again to re-confirm filling the gap, (gap consolidation).
We may trade through and correct under this gap several times before we move on upward, and back into the previous trend, albeit with a lower channel adjustment, and lower top targets.
I am not convinced that this gap is either a failure of the GetAPI/JSON call from TV to btc-e, or some bug in the TV db
. The data appears in the other time periods, therefore, the data IS available, it does not show on the 30M and 60M for some reason I am investigating. It's an anomaly, and we are in the first 24-7 global trading market ever invented by mankind, so it's comforting to find something really unique to dig your teeth into. And the levels we are at now are critical to moving upward, or breaking into what could be another considerable correction down.