Bitcoin price is closing in on $11,000 after a period of extreme volatility. Last week, the crypto asset fell below $10,000 in what many are calling a bear trap, and quickly bounced from lows around $9,400 back up the current price of $10,900 where it is currently trading.
Along the way back up, yet another CME Future gap was created, making four total gaps that are just waiting to be filled. With the leading crypto asset trending up once again, which CME Futures gap will Bitcoin end up filling next?Unfilled CME Futures Gaps Could Help Predict Bitcoin Price Action
The crypto community is often torn over CME Future gaps and their significance in Bitcoin markets. Many believe that these gaps always get filled, and Bitcoin price cannot move onto its bull run without first filling the CME Futures gaps left lower from how fast the asset had risen after it left its bear market bottom behind.Related Reading | Monthly Bitcoin Lows Demonstrate How Strong The Next Bull Market Will Be
According to crypto analyst CastilloTrading, there are now four CME Futures gaps that exist on Bitcoin price charts, each just sitting waiting to be filled by more recent price action.
CME Futures Gap *UPDATE* New gap has been created from $10,400-$10,100. No gaps have been filled in over two weeks, shows that recent PA how been fairly weak.>$11,950-$11,700
Always good to keep an eye on these levels. — Castillo Trading (@CastilloTrading)
>$10,400-$10,100
>$9,000-$8,500
>$7,200-$7,450
Related Reading | Power Law: Tracking Bitcoin’s Growth to $100K and Beyond
Gaps are often left on charts after extremely powerful moves that occur after trading sessions have closed, for example, on weekends or holidays. This is exacly what happened recently with Bitcoin price, leaving the fourth gap on price charts. Gaps like the ones on Bitcoin price charts are more commonly found in speculative assets like BTC and other crypto-assets.
