- Bitcoin has created a new CME GAP between 28215 – 28265. It’s also the POC of the consolidation structure, so it could be a good short-term trade when the price makes a pullback.
- First, let me explain some important facts about CME gaps. CME Futures on Bitcoin started in December 2017. We had dozens of unfilled gaps from 2017 – 2023, and all of them have been filled. So the statistical probability of filling these gaps on Bitcoin is 100%. When the CME futures started, the huge bear market of 2017–2018 started, and Bitcoin crashed by 84%.
- Let me remind you (if you forget it), that the major CME GAP between 20330 – 21110 is completely uncovered, and the question is when we will cover it. It can take a few weeks or a few months, or maybe later. Time is not important.
- In total, we have 3 unfilled GAPs on the daily chart. One is above the current price between 34450 – 35180. Two are below the current price, between 28215 – 28265 and 20330 – 21110.
- On the left side of the chart, you can see fair value GAPS on the spot market. These gaps tend to be filled if they are massive, and these gaps are extremely huge. In my opinion, we are going to go down sooner or later, fill them, and take liquidity below 15.5k. It could happen in Q4-2023 or Q1-2024 due to my calculations.
- If you find this analysis informative, hit like/boost right now! Appreciate it.
- 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.
- Thank you for reading!
Professional trader and analyst. My specialization is in Elliott Wave Theory, Fibonacci tools, chart patterns, candlesticks, and price action. To analyze market structure, I use market profile and volume profile in my trading system. To analyze trends, I use trendlines, VWAP, and simple moving averages.