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28 September 2020

Bitcoin price at risk of CME gap-fill unless $10.5K flips to support

Bitcoin price at risk of CME gap-fill unless $10.5K flips to support


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“The long tail on the candlesticks of the past five days shows that the bulls have been buying at lower levels but they have not been able to push the price above the top of the range at $10,625, which suggests that demand dries up at higher levels.”  

Despite Bitcoin price finding soft support around $10,100, the price has been able to hold above $10,500 and a number of analysts remain cautious as the CME gap at $9,900-$9,650 remains a threat. 

An encouraging first step would be to see a 4-hour or daily candle close above $10,500 alongside a sustained increase in buy volume. 

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cointelegraph.com
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