Bitcoin Has To Fill Some December GAPs
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.
Gaps occur because the bitcoin spot market trades 24/7 on various centralized exchanges, from which CME derives its Mark Price, while the futures market only trades Sunday through Friday, from 6:00 pm to 5:00 pm ET.
Some believe that gaps on the CME chart can act as significant support or resistance levels, as prices typically tend to fill the gap at a future date. Others argue that CME gaps are simply a technical phenomenon with no real predictive value.
Bitcon CME Futures chart made some GAPs in December, which can get filled in upcoming days/weeks and it can be very interesting to follow. We think that wave C can now fill the GAP from December 3rd and then when correction is completed and bulls back in play, then it can fill the GAPs from December 17 and December 10.
Gaps occur because the bitcoin spot market trades 24/7 on various centralized exchanges, from which CME derives its Mark Price, while the futures market only trades Sunday through Friday, from 6:00 pm to 5:00 pm ET.
Some believe that gaps on the CME chart can act as significant support or resistance levels, as prices typically tend to fill the gap at a future date. Others argue that CME gaps are simply a technical phenomenon with no real predictive value.
Bitcon CME Futures chart made some GAPs in December, which can get filled in upcoming days/weeks and it can be very interesting to follow. We think that wave C can now fill the GAP from December 3rd and then when correction is completed and bulls back in play, then it can fill the GAPs from December 17 and December 10.
