The $9,600 Bitcoin CME Futures Gap is not going to fill...

LeoFinance
1 month ago
2 Min Read
317 Words

It's on the blockchain, it's in stone now, BTC is not going to fill the CME gap...

I'm going out on a limb and saying that the Bitcoin CME Futures Gap is not going to fill.

You know which gap I am talking about right?

The one that everyone has been talking about down around $9,600-$9,700...

You can see it pretty clearly here:

(Source: https://www.tradingview.com/x/YDTrn8Fp/)

That may not sound like that big of deal, but it really is.

If you go back and look at a chart of every Bitcoin CME Futures gap, you will see that over 90% of them have filled to date, which is one reason why so many people pay attention to them.

Ever since this product launched, the gaps have a very strong tendency to fill, eventually.

I think this time is going to be different...

Though I should probably add a little context to my statement at the top, I don't think the $9,600 CME gap is going to fill within the next 18 months.

A big reason for that is likely due to MSTR.

Microstrategy recently bought $425 million worth of BTC right around $10k.

If you look at the announcements of when they were buying, how they were buying it, and then you look at the above chart... it looks very much like they were the ones not letting BTC fill that gap when it briefly got below $10k several days back...

(Source: https://hive.blog/hive-167922/@jrcornel/jack-dorsey-just-got-the-blueprint-on-how-to-get-usd425-million-into-btc-without-moving-the-price)

Basically, MSTR didn't let bitcoin fill that CME gap, and my guess is if the price falls back towards that level again, they will defend it.

For that reason, I think anyone who was hoping to buy some $9,600 BTC or lower, is going to be waiting for a very long time.

At this point, the path of least resistance is probably higher.

Stay informed my friends.

-Doc

Posted Using LeoFinance