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CME Bitcoin Futures’s Gaps Filling Predict that BTC will Get Lower Lows?

Bitcoin CME futures have witnessed an $800 gap followed by another $1,000 dip after opening on Sunday. The total gap of $1,800 [-15.51%] was created over the weekend causing Bitcoin CME futures to decline from $11,990 to $9,915. As we know, CME bitcoin futures market will be closed at weekend, indicating that the recent spot market fluctuation happened at weekend was related to the declines in futures market. 

The gaps in CME futures play an important role in predicting BTC spot market movements as each of these gaps eventually gets filled. In the past 2 months, CME bitcoin futures price had performed greatly declines and created gaps for 8 times, and 5 of which had been completely filled. And the last gap was created due to the sharply plunge at weekend.

According to the price performance in the recent bitcoin market, the gap formed might be filled in the short term. And based on the high price position of the gap at weekend, it needs to rally back above $11,500 level to fill the gap, which is also the resistance. Filling the gap will not switch the market trend in the short term, on the contrary, it might somewhat consolidate the downward trend. 

If bitcoin price fails to rebound, it might decline to fill the gap at around $8,500 – $9,000 range and get further low.

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Since bitcoin has once again incurred a massive amount of volatility that has made it increasingly unclear as to where it is heading in the coming future, margin trading becomes more and more popular. A number of sources have reported that the bitcoin price fluctuation since the bullish run in May has generated huge profits in accordance to the influx of margin traders, many of which leveraging positions up to 100x greater than their initial investment – as is possible on BitMEX and Bexplus. BitMEX is popular among senior traders, while Bexplus is quite suitable for beginners who just step into the crypto futures market.

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As a bitcoin-based cryptocurrency futures exchange, Bexplus brings some of the most powerful functionality to crypto traders. Bexplus provides BTC, ETH, LTC, EOS and XRP futures trading with 100x leverage. Users in the platform will be armed with the best profit-generating tools which help traders stay profitable no matter in a bear or bull market. Moreover, Bexplus offers trading simulator with 10 free BTC and free P/L calculator, so that traders can measure the potential profits before entering the real trades. 

BTC Giveaways in Bexplus Exchange

  • Make a deposit and trade BTC futures contracts, you can enjoy 10% cash back. For example, if you deposit 1 BTC, you will get 1.1 BTC credited in your account balance.

  • Join July gift activity before July 31, you can win iPhone XS Max, iPad Air 3, Apple watch series 3 and etc. Each user is eligible to apply for one gift only. 

Register an account with the official invitation code 8T5vQ, you can enjoy 10% off transaction fee. Come to join Bexplus now and make profits with 100x leverage BTC futures trading now!

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The writer of this post is a guest. Opinions in the article are solely of the writer and do not reflect The Merkle's view.

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