Follow me for more signals and information
Trading in BTC futures on the Chicago Mercantile Exchange kicked off with an impressive gap, ranging from $51,425 to $52,240. This upward momentum persists, with trading now hovering around $52,475. Meanwhile, the spot market sits at $51,640, with efforts to secure a position above the $51,604 volume level ongoing.
This scenario is a rarity, presenting a unique opportunity. The four-hour timeframe on the CME is undergoing a crucial EMA 50 test, with liquidity gathered and indicators primed. These factors suggest a potential for growth to close the remaining gap at the upper range of $53,140-$53,500.
It appears institutional players are making a concerted effort to finalize the closure of this gap, a process initiated last week and pursued over several attempts. Recall earlier discussions regarding the spot chart: a close above $51,604 today would bolster prospects for an ascent towards $53,000-$55,000.
As the daily candle approaches its close, bullish shadows below and a tug-of-war around the $51,604 volume level highlight its significance since February 15th.
