BTC is making some positive price action this weekend so far. And as it currently stands a gap will be created in the BTC CME future price action.
For those unaware, the CME futures gap is a discrepancy between the trading price of Bitcoin futures contracts when the CME Bitcoin futures market closes for the weekend, and the price of Bitcoin when it reopens on Sunday evening.
This gap is often filled in the following trading days, which is a metric many traders use to hedge bets and predict future price movements. Of course this doesn’t always work, and price gaps do not need to be filled in the immediate future, but it is a metric that many traders weight.
While the existing gap is also small (only a couple percent), it could set the stage for how price action behaves when major markets opens this week.
BTC is making some positive price action this weekend so far. And as it currently stands a gap will be created in the BTC CME future price action.
For those unaware, the CME futures gap is a discrepancy between the trading price of Bitcoin futures contracts when the CME Bitcoin futures market closes for the weekend, and the price of Bitcoin when it reopens on Sunday evening.
This gap is often filled in the following trading days, which is a metric many traders use to hedge bets and predict future price movements. Of course this doesn’t always work, and price gaps do not need to be filled in the immediate future, but it is a metric that many traders weight.
While the existing gap is also small (only a couple percent), it could set the stage for how price action behaves when major markets opens this week.