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CRYPTO MECHANIC
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I'll share my brief thoughts on
$BTC
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CRYPTO MECHANIC
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What is Bitcoin CME gap? Cme is a stock broker also offers Bitcoin trading but from Monday to Friday. Since Bitcoin trades 24/7 When cme trading opens on Monday it opens with a Gap in price. Let's say on Friday cme Bitcoin pair trading stopped at $62,500 and during the weekend Bitcoin moved to $64,500 or 58,500 . On Monday CME Bitcoing trading will open at the current market price of btc. The gap between 62500 to the opening price is CME GAP. It can be any gap though. I hope now you understand.
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I read many post that there is a Bitcoin price Gap on CME futures and $BTC will fill last week CME GAP There is a CME gap at $9600 will Bitcoin fill that Gap aswell? it's not something that is really important. Gaps have nothing to do with the prices the only thing that drives the market is market's strength and weakness / Supply or demand. The market can stay irrational longer than you think. Charts are just a tool and it does not guarantee anything. The key is Risk management and your emotional control.
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I think $60k will be a key high timeframe level to hold now. Even if MTgox payments affect the price of $BTC , as long as it holds above $60k. it's fair to be on the bulls side. A sharp move down towards $60k can present a good opportunity (if it comes).
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if you missed my update on $BTC yesterday watch it here 👇🏼
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Now that there is a rumor that Mtgox will finally start to proceed with the payments. What price action are you expecting on $BTC ?
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