BTCUSD and the CME weekend Gap: Fill it? or Bear Trap?
Updated
This chart shows the Gap in CME futures between Friday close and Sunday open.
As you know, the last large gap like that was filled soon afterward with one big red.
This time, I think it might run bear trap first, and go higher to wipe out shorts.
Considering the size of that gap, and previous behavior, there will be a LOT of shorts.
Most of those shorts will have stop loss a little above the gap, or above previous top.'
So what better way for the big money to find liquidity, than to wipe out those shorts.
Thus I think this gap could lead us to a higher high!
But I could be totally wrong and it just fills today..
So this is just a plot to observe, not a trade call.
This is part of my ongoing BTC analysis, and my personal plan is to ride this to 10k per this plot
(or I should say 9887.89 to be exact) ...
As you know, the last large gap like that was filled soon afterward with one big red.
This time, I think it might run bear trap first, and go higher to wipe out shorts.
Considering the size of that gap, and previous behavior, there will be a LOT of shorts.
Most of those shorts will have stop loss a little above the gap, or above previous top.'
So what better way for the big money to find liquidity, than to wipe out those shorts.
Thus I think this gap could lead us to a higher high!
But I could be totally wrong and it just fills today..
So this is just a plot to observe, not a trade call.
This is part of my ongoing BTC analysis, and my personal plan is to ride this to 10k per this plot
Note
a wee bit of a turn already .
Note
Making a run for bottom of Gap? or final bear trap before mass murder? .
Note
Fib of the Gap .
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