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Welcome to this BTC CME update. Before moving further we must know what is CME gap and how it works. So let's try to understand it first.
What is CME Gap?
A CME gap for bitcoin refers to a price discrepancy that occurs on the Chicago Mercantile Exchange bitcoin futures chart between the closing price of one trading day and the opening price of the next trading day.
How to identify CME Gap?
Look at the chart carefully, you will see that last Friday on 26th May Price closes around
27K
and after that on 30th May Price opens at $27.8k which will leave a gap in the chart and yesterday we filled this gap.
Now our big question is whether all CME Gaps are filled or not. These CME gaps have a tendency to get "filled” – meaning that the market corrects back into the gap. While sources struggle to agree on the exact percentage, most of them agree that at least 60-70% of CME gaps are filled eventually.
So according to the chart, we have filled our recent CME Gap which is around the $26.8k level so there is a chance that we might see a relief rally now up to the $28k-
29K
from here.
But we also have a huge Gap left around $20k which might be filled sooner or later imo.
Hope this update will clear all your doubts about the CME GAP.
What do you think about this $20k Unfilled CME Gap?
Do you also think that we filled this gap sooner or later or do you think that we left it unfilled?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!
Welcome to this BTC CME update. Before moving further we must know what is CME gap and how it works. So let's try to understand it first.
What is CME Gap?
A CME gap for bitcoin refers to a price discrepancy that occurs on the Chicago Mercantile Exchange bitcoin futures chart between the closing price of one trading day and the opening price of the next trading day.
How to identify CME Gap?
Look at the chart carefully, you will see that last Friday on 26th May Price closes around
27K
and after that on 30th May Price opens at $27.8k which will leave a gap in the chart and yesterday we filled this gap. Now our big question is whether all CME Gaps are filled or not. These CME gaps have a tendency to get "filled” – meaning that the market corrects back into the gap. While sources struggle to agree on the exact percentage, most of them agree that at least 60-70% of CME gaps are filled eventually.
So according to the chart, we have filled our recent CME Gap which is around the $26.8k level so there is a chance that we might see a relief rally now up to the $28k-
29K
from here. But we also have a huge Gap left around $20k which might be filled sooner or later imo.
Hope this update will clear all your doubts about the CME GAP.
What do you think about this $20k Unfilled CME Gap?
Do you also think that we filled this gap sooner or later or do you think that we left it unfilled?
Share your views in the comment section.
If you like this idea then do support it with like and follow.
Thank You!