- Based on historical performance, we have a 100% probability of going down to 20k to fully or partially fill the GAP on CME futures .
- I am not saying that this is going to happen with 100% certainty, but I am saying that this is a statistical fact because all gaps on CME futures were at least partially filled. You can check out the history of this chart on the daily chart from 2017 – 2023.
- Now it’s up to you if you want to go against the 100% statistical probability. I am just giving you all the important facts and information.
- When will this gap be filled, is the question. Again, based on historical data, it could take a few days, a few weeks, a few months, or even more.
- Bitcoin is currently rising, and the next strong resistance is around 30k. It’s the POC of the previous structure and the start of the previous gap. There is a pretty good chance that we will see a huge crash from this level!
- From my Elliott Wave perspective, there are valid bearish and bullish scenarios because this whole uptrend from 15500 to 27000 can be the start of a huge impulse or just an ABC correction. So for this particular timeframe, we need more data to make a confirmation. On the left side, you can see a bearish ABC correction, which is valid.
- This ABC correction can have an extended A wave with a steep and quick C wave. So make sure you take it into consideration!
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- https://www.tradingview.com/chart/BTCUSDT/5A3Vsdkv-Bitcoin-100-probability-to-go-down-to-20k/
