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Bitcoin fills its $117k CME gap amid talk of price discovery next

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Bitcoin Lacked Mainstream Media Coverage In Q2: Report
Bitcoin Lacked Mainstream Media Coverage In Q2: Report

Important points

  • Bitcoin futures fill the CME’s gap since mid-August. This is the latest indication of market strength.

  • The analysis warns that bulls need to avoid converting this level into resistance. Otherwise, new lows could be in store.

  • BTC’s price could reach its all-time highest in just a few weeks.

BitcoinBTC() has hit an important price target for Saturday, as the analysis predicted new all-time records.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Bitcoin and CME price gap mixed

Data from Cointelegraph Markets Pro You can also find out more about the following: TradingView Bitstamp reported a BTC/USD price of $116.800.

Bitcoin Futures took the limelight, with a price of $117.320. It was able to close at a record high. “gap” The leftovers of a previous weekend.

Around August 23, the BTC weekend price decline resulted in a gap, which was gradually filled by futures. “filling” Over a 3-week period, it is best to spread out the work.

“If BTC fully reclaims this level, the doors towards the new ATH will open,” Ted Pillows is a cryptocurrency investor and entrepreneur who argued against the government in a recent article. post on X Before moving, you should consider the following.

Pillows warns that the return of monthly lows below $108,000 may occur if price views the top edge of the gap.

BTC/USDT one-day chart. Source: Ted Pillows/X

Amidst various signals, all-time highs returned to the radar this weekend. rejecting the idea It was a cycle top.

Keith Alan is the co-founder and trading resource Material Indicators. told If you had X number of followers, $124.500 would have been yours. “not the top” Bitcoin.

“Why? Because there is simply too much institutional demand, and that demand is growing,” He summarized.

US Bitcoin Exchange-Traded Funds (ETFs). saw net inflows Data from UK Investment firm shows that over $2.3 billion was invested in five days up to Sept. 12 Farside Investors.

US spot Bitcoin ETF netflows (screenshot). Source: Farside Investors

Alan is also mentioned upcoming interest-rate cuts CME Group, based on data, has calculated that there is a 100% chance of the US Federal Reserve’s announcement occurring at its scheduled date, September 17. FedWatch Tool.

“There will be volatility, and things are going to start getting spicy,” He added.

Traders are counting down to new record highs

BitBull, a popular trading platform, predicted the peak to occur within two weeks.

Related: Bitcoin ‘sharks’ add 65K BTC in a week in key demand rebound

He said that this was because BTC/USD had reclaimed a long-term key trend line, after losing it briefly in August.

“$BTC has reclaimed its 8-yr trendline level. It has a breakout in July, and last month BTC lost this key level. But now, bulls have closed a strong candle,” He explained Alongside an accompanying diagram. 

“This shows BTC momentum is very strong, and a new ATH could happen in 2-3 weeks.”

BTC/USDT two-week chart. Source: BitBull/X

Rekt capital, an analyst and popular trader who has been around for a long time, said this same week that the top of the bull market was still not in. historical patterns.

This article contains no investment recommendations or advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.