Bitcoin price leaves another massive CME gap behind, technicals suggest it will be filled soon

  • Bitcoin price is going through a recovery period after a quick dip to $16,188.
  • Due to the extreme volatility in the past three days, Bitcoin has left another CME gap open.

Bitcoin is currently trading at $19,200 after a significant recovery from its low of $16,188. It seems that the flagship cryptocurrency is on its way to hit a new all-time high again. However, a notable gap on CME Bitcoin Futures might pose a threat for the bulls in the short term.

Bitcoin tends to fill CME gaps

The reliability of CME gaps being filled is good. In the past, the digital asset formed several notable gaps in October 2019, March 2020 and July 2020. All of them were filled, although the last one established on July 23, 2020, at around $9,500, was only partially filled on September 8 as Bitcoin price reached $9,850.

btc price

CME Bitcoin gaps chart

Either way, these gaps seem incredibly accurate, which means the latest gap formed between $17,295 and $18,275 is most likely bound to be filled. However, it’s important to note that most of the other gaps have taken several weeks and even months to fill eventually, which means we might not see this last gap fill until a few weeks later. 

btc price

Bitcoin CME Futures 12-hour chart

Bitcoin price is up by around 10% during the weekend, leaving a massive gap on the 12-hour chart. Although gaps don’t necessarily always fill, several other bearish indicators show BTC is poised for a correction again.

btc price

BTC/USD 3-hours and 4-hours charts

The TD Sequential indicator has presented a sell signal on the 3-hour chart, and it’s on the verge of posting another sell signal on the 4-hour chart, which suggests Bitcoin price could be bound for a short-term correction, potentially to fill the CME gap. 

Nonetheless, Michael Sonnenshein, Managing Director of Grayscale, the largest Bitcoin trust fund globally, has stated that BTC remains bullish and the trust fund is "just getting started" based on the type of investors it is receiving in the past few months. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic price squeezed, puts ETC on the verge of a sharp move

Ethereum Classic price has not accomplished anything since claiming the 2018 high on July 24, showing a 3.60% gain over the last nine days. The lack of price traction stands in contrast to the unstoppable advance for ETH over the last 13 days.

More Ethereum Classic news

AXS price sows doubt, yet Axie Infinity has the swagger for higher prices

AXS price climbed 183.75% from May 21 to May 23, easily besting any previous three-day rally since 2020 and carry the cryptocurrency to the 461.8% extension of the April-May correction. Over the last ten days, Axie Infinity has fallen -6.23%, leaving doubt about the potential to continue ...

More AXS news

Cardano Price Prediction: ADA bulls attempt retest of $1.50

Cardano price is currently hovering around a crucial support level, but a minor pullback before a new leg up seems likely. Therefore, investors can expect ADA to correct critical demand barriers.

More Cardano News

Dogecoin price might slide 20% as on-chain metrics scream sell

Dogecoin price set up multiple higher highs since July 17 but is currently showing weakness, indicating a shift in trend. On-chain metrics suggest that losing a critical support level might trigger a slew of selling pressure, pushing DOGE lower.

More Dogecoin News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast