Bitcoin Must Fill the $110,000 CME Gap – Analysis

The following are key points.

• Bitcoin has bounced back to $114,000 on Wall Street’s opening.

• The CME weekend gap has opened at $110,000, which is a warning to traders that a possible retracement may occur.

• Macro-analysis sees good chances of another “Uptober” Cryptography is a good example.

BitcoinBTCThe NASDAQ ( ) index continued to rise at the Wall Street opening on Monday, while traders were cautious.

CME gap cools excitement over Bitcoin rebound

The Data of Cointelegraph Markets Pro The following are some examples of how to get started: TradingView BTC/USD surpassed $114,000 in daily gains as they exceeded 1.5%.

The pair was set for an impressive first Asia session after the weekly close above $112,000, in which gold also hit new record highs.

As BTC prices tended to move in a short-term direction, traders did not appear relaxed. As a new “gap” CME Group’s Bitcoin-futures market was one of the main reasons to expect lower values.

“$BTC now has a CME gap around the $110,000 level,” Ted Pillows is a crypto investor, entrepreneur and investor. post on X. 

“Bitcoin has filled every CME gap in the last 4 months, so this could most likely get filled. Keep an eye on it.”

You can also read about the advantages of using Cointelegraph reportedCME gaps tend to act as a price “magnets,” The market will fill the voids within a few weeks, even days.

“Ideally we come back & close this if we want a clean move higher this week,” Nic Puckrin is the CEO and founder of Coin Bureau. argued.

According to CoinGlass data, BTC/USD will need to cut through an additional mass of liquidity, centered around $111,000 to fill in the hole.

The exchange order book liquidity has continued to grow, and 24-hour cryptocurrency liquidations have reached $400 million.

Keith Alan, the co-founder and trading resource Material Indicators’s founder, said on Saturday that liquidity is more important than price. “paper thin” Below $115,000.

“I especially expect things to get spicy around the Weekly Close on Sunday and continue into the Monthly close on Tuesday,” He predicted At the time.

“Uptober” BTC is a good bet to flip the odds.

Bitcoin followed the bullish week start of US stock market as gold consolidated after an earlier high price per ounce of $3,831.

Related: BTC price due for $108K ping pong: 5 things to know in Bitcoin this week

The S&P 500 and Nasdaq Composite Index were up by 0.5% and 1%, respectively, at the time of writing.

QCP Capital, a trading firm that commented on the matter, suggested that there was a positive outlook for classic crypto. “Uptober” It was good.

“Vols are trending lower, with expectations that they will drift further as spot consolidates ahead of Friday’s US Non-Farm Payrolls,” In the most recent edition of “Asia ColorThe Wall Street Open ” Analysis Series 

“While there are questions around whether NFP could be delayed if the US government shuts down, markets appear relatively unfazed, buoyed by Wall Street’s gains.”

QCP came to the conclusion that $115,000 could be recovered. “confirm a renewed uptrend.”

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.