Despite the unstable rally in recent weeks, Bitcoin again broke through the level of $ 8,000, which some analysts considered the beginning of an upward impulse.
The most conservative growth forecast is $ 9,000, the most common is $ 10,000, but there is an analyst who believes that BTC is actually moving to a much higher level.
His forecast is based on price gaps in the bitcoin futures chart on CME, which have yet to be filled.
By tracking the largest cryptocurrency price movement, the chart reflects 2 empty gaps, which mean that Bitcoin targets $ 17,700 and $ 18,500, which are price levels without candlesticks.
$ BTC CME gaps yet to be filled;
– $ 18,500
– $ 17,700Those gaps! pic.twitter.com/DUiCdX23cq
– ??????? ? (@Thrillmex) May 21, 2019
For those who do not know, “filling the gap” is the process by which an asset returns to previous price levels, where a void appears on the chart.
Emptiness appears when, closer to the end of the auction, the price of an asset quickly rises or falls. When trading resumes, the value rises significantly up or down relative to the close, which forms the gap.
In trade, these gaps often act as magnets for price changes. Recently a similar situation occurred – on May 16, the price of BTC fell to $ 6,600, which fills the gap that appeared during the paratolic growth of BTC at the beginning of the month.
$ BTC – CME Futures Gap officially filled
Looks like that was the dip to buy
This is very bullish pic.twitter.com/hYCRMKUj2i
– Josh Rager ? (@Josh_Rager) May 17, 2019
Among the many types of discontinuities noted in the BTC graphs, there are so-called “runaways”, which occur with strong impulse movements in any direction.
Their potential lies in the fact that they are escaping gaps, which are usually supported by a large volume, since they are located near a reversal.
Publication date 26.05.2019
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