Looks like Team CME was happy with the price action and let the price move away from the gap. Intensity of the reaction is quite good sign. Now we need to check volume and RSI to grasp at what's next.
CME gaps have a tendency to get filled. Looks like the pattern has been respected once again. Now let's see how price reacts once it's entirely filled: Spike back up to weekly resistance around 7800? Slow bleeding to monthly support around 7500?
... at least for now. Because of the CME gap I'm still expecting we'll bounce away from support a few times before dumping through towards 7700 zone. But up to now not enough sellers to break support.
BTC reached weekly support and previous consolidation range. Expecting a bounce and some kind of consolidation there.
Looks like we are about to find out.
Looks like we could be forming a descending triangle. Selling pressure is higher at the moment according to the global M.D.R.
Looks like we are forming another bull flag and getting ready to test that 8400 USD mark once again.