$IBIT 4-Hour Chart Gaps Continue to Fill and Leave Clues for BTC
This new leading 'indicator' for lack of a better term, continues to be accurate and 100% since the 
IBIT inception. Every single gap has filled, except one recent one which I believe will resolve to the downside at some point below.
The 2nd IBIT Gap just filled on this mini-rally today, so I think we head lower to fill the other lower unfilled gap as noted.
Although it's showing a nice hammer reversal candle and Bullish Engulfing candle here.
So If it breaks and holds above $33, then we likely push higher for a time.
There's no time limit for filling these gaps unfortunately.
But I think we'll re-test recent price action on Bitcoin around
54K, which would be a nice buying opportunity.
Unless the markets continue to get spooked with election / econonomy fears.
Also, since the CPI came in as expected there's less reason for the FED to drop rates .50 basis points which is what I thought could be a short term catalyst to rally prices. As of today's CPI news, there's an 85% chance of just a .25 basis point cut.
I can't foresee any positive bullish news in the short term, so I'm expecting September to continue to be rangebound, choppy, and re-test recent lows.
BTC.D does look bullish here, so I'm focusing attention on Bitcoin and SOL buying zones mostly.
Really curious to see if and how long this 4-hourIBIT chart and 'gap trading' continues to work...
Shhhhh, for now I've found something new that's working :)
Feel free to like and share.
More info in my bio.
- Brett
IBIT inception. Every single gap has filled, except one recent one which I believe will resolve to the downside at some point below.The 2nd IBIT Gap just filled on this mini-rally today, so I think we head lower to fill the other lower unfilled gap as noted.
Although it's showing a nice hammer reversal candle and Bullish Engulfing candle here.
So If it breaks and holds above $33, then we likely push higher for a time.
There's no time limit for filling these gaps unfortunately.
But I think we'll re-test recent price action on Bitcoin around
54K, which would be a nice buying opportunity. Unless the markets continue to get spooked with election / econonomy fears.
Also, since the CPI came in as expected there's less reason for the FED to drop rates .50 basis points which is what I thought could be a short term catalyst to rally prices. As of today's CPI news, there's an 85% chance of just a .25 basis point cut.
I can't foresee any positive bullish news in the short term, so I'm expecting September to continue to be rangebound, choppy, and re-test recent lows.
BTC.D does look bullish here, so I'm focusing attention on Bitcoin and SOL buying zones mostly.
Really curious to see if and how long this 4-hour
IBIT chart and 'gap trading' continues to work... Shhhhh, for now I've found something new that's working :)
Feel free to like and share.
More info in my bio.
- Brett
25-year investor & trader, bought 1st BTC at $20
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstream.io/work-with-me
More information:
Moonstream Crypto: moonstream.io
M3 Active Trader: Moonstream.io/M3
Trading Signals: CryptoMastery.org/pro
Work With Me 1:1
moonstream.io/work-with-me
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