CME Bitcoin Futures Gaps
Look at these boxes and how they affect price action and range. Wow bitcoin, very cool.
When charting gaps like this, turn off magnet tool and enable "indicator values" in the chart formatting options so that the OHLC of BTC1!'s candles are viewable. Then use your preferred tool to create levels. Do note a majority of these gaps overlap due to their nature.
In some cases, a gap may be a runaway gap. Many traders like to use these as areas of entry. Runaway gaps may be caused by exhaustion in the trend, ironically.
If price is in a downward trend, there will be a moment where buyers capitulate and sellers are euphoric. In an upward trend, buyers are euphoric and short sellers feel short on logic.
In the event of a runaway gap, expect price to pull back to where the gap is to "fill" the empty zone.
A few of them are breakaways, too, where the break is caused by (usually) a fundamental reason. When a large breakaway gap occurs, the gap will become a support or resistance. A possible breakaway gap on the chart is the one on June 8th, 2018. A Korean exchange was hacked and bitcoin dropped to sub $7000 in a couple days.
When charting gaps like this, turn off magnet tool and enable "indicator values" in the chart formatting options so that the OHLC of BTC1!'s candles are viewable. Then use your preferred tool to create levels. Do note a majority of these gaps overlap due to their nature.
In some cases, a gap may be a runaway gap. Many traders like to use these as areas of entry. Runaway gaps may be caused by exhaustion in the trend, ironically.
If price is in a downward trend, there will be a moment where buyers capitulate and sellers are euphoric. In an upward trend, buyers are euphoric and short sellers feel short on logic.
In the event of a runaway gap, expect price to pull back to where the gap is to "fill" the empty zone.
A few of them are breakaways, too, where the break is caused by (usually) a fundamental reason. When a large breakaway gap occurs, the gap will become a support or resistance. A possible breakaway gap on the chart is the one on June 8th, 2018. A Korean exchange was hacked and bitcoin dropped to sub $7000 in a couple days.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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