The Bitcoin price is still a hot topic re-shared by many best cryptocurrency news sites. However, what’s interesting in the latest news is a hint by CME Futures gaps which shows that if all goes well, Bitcoin is headed to $18,000 or higher.
Even though most of the analysts first want to see BTC at the $9,000 or $10,000 price targets, one trader believed that BTC may be heading higher – to price points which have left gaps in the CME Bitcoin Futures charts that yet need to be filled.
After going parabolic in the recent weeks, Bitcoin has corrected to a level below $8,000 and further dropped down to $7,500. Currently, the price action shows that BTC is increasing and colliding with the hints and predictions from CME Futures gaps.
Ever since the start of April, Bitcoin has been the main talk of the finance and tech industries – and a hot topic in the latest cryptocurrency news. It was also the first-ever cryptocurrency that has bounced back from bear market lows and captured the attention of the market and media once again.
So, is a new parabolic move coming in for Bitcoin?
The CME Futures gaps show that this is entirely possible, mostly because of Bitcoin’s move in late December 2017 which left two unfilled gaps on CME Group’s Bitcoin Futures chart. These two gaps, according to some altcoin news analysts, could mean that Bitcoin is targeting $17,700 and $18,500 – which are two price levels without candle bodies as can be seen in the chart shared by the self-proclaimed “shitcoin trend trader,” Rampage.
$BTC CME gaps yet to be filled;
– $18,500
– $17,700Look's like we're headed back to fill those gaps! pic.twitter.com/DUiCdX23cq
— Cæsar (@PARABOLIT) May 21, 2019
The CME Futures gaps show that certain filling is needed. Speaking of, in the financial market, “filling the gap” is basically a process in which an asset returns to its previous price levels where a void in the chart has formed – due to the price of the asset which is rising or declining quickly while the trading is offline. When the trading resumes, the price of the asset is significantly lower or higher than it was at close – thereby leaving a gap.
This Bitcoin gap is a major topic right now and could hint on something bigger than many expect.
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