BTC CME GAP Still open
The infamous CME (Chicago Mercantile Exchange) gap!
Current Status:
- CME Gap: $11,700 - $12,100 (approx.)
- BTC Price (4-hour TF): $62,839.80
- Gap Status: Open
Historical Context:
- CME gaps have a high fill rate (~85-90%)
- Most gaps fill within 1-3 months
- Recent examples: Feb 2021 ($45,500 gap filled), July 2021 ($35,500 gap filled)
Technical Analysis (4-hour TF):
- RSI (14): 53.27 (neutral)
- MACD (12, 26): 202.12 (bullish)
- Moving Averages:
- 50-MA: $61,439.19
- 100-MA: $59,551.19
- 200-MA: $47,833.19
Bullish Factors:
1. CME gap as a potential support level
2. Rising trend line from July lows
3. Bullish MACD crossover
Bearish Factors:
1. Overbought RSI levels (potential consolidation)
2. Resistance at $65,000 - $67,000
Probability of Gap Fill:
Based on historical data and technical analysis, there's a moderate to high probability (~60-70%) that the CME gap will be filled in the coming days/weeks.
Possible Scenarios:
1. *Gap Fill*: BTC price drops to $11,700 - $12,100, filling the gap.
2. *Consolidation*: Price consolidates between $60,000 - $65,000 before deciding on next move.
3. *Breakout*: Price surges above $65,000, potentially targeting $70,000 - $75,000.