Bitcoin CME Futures TA Update (Price Gap? Must Fill?)
Bitcoin CME Futures
BTC CME opens the Monday trading with a price gap from 9100-8275 areas.
This is a huge gap and the price is currently sitting at the key zone of support which has been the old resistance from Nov 2019-Jan 2020 trading history.
If Bitcoin can hold this level for the next 24-48 hours. there is a potential to flip this area into new support territory.
Also, giving the fact that all hourly time-frame has entered the oversold conditions, we may likely see a relief bounce to the upside and potentially try to fill the gap.
Please treat this with caution as the bounce may happen is just a normal reaction, not true trend-line reversal.
Further price action is needed to confirm a market shift to the upside.
BTC CME opens the Monday trading with a price gap from 9100-8275 areas.
This is a huge gap and the price is currently sitting at the key zone of support which has been the old resistance from Nov 2019-Jan 2020 trading history.
If Bitcoin can hold this level for the next 24-48 hours. there is a potential to flip this area into new support territory.
Also, giving the fact that all hourly time-frame has entered the oversold conditions, we may likely see a relief bounce to the upside and potentially try to fill the gap.
Please treat this with caution as the bounce may happen is just a normal reaction, not true trend-line reversal.
Further price action is needed to confirm a market shift to the upside.
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