Bitcoin Price Drop – CoinPost.News

In late July and early August, the cryptocurrency rose from $ 9000, analyst expected that bitcoin could soon move towards the crucial CME futures gap at $ 9,600.

The bitcoin market remains extremely active on exchanges, even when the CME futures are closed over the weekend. This forms natural gaps in the CME’s price action, many of which are filled within a week after they were opened.

Bitcoin Could Fill the CME Gap Soon: Analysts

Bitcoin will soon fill the CME gaps agreeing to a cryptocurrency analyst seeing the later price activity. He famous how the cryptocurrency misplaced the back of the significant bolster at $10,900, which is likely to trigger a move to $10,200.

“BTC Analyst: Looks ready to finally go fill that CME gap. Didn’t quite tap the $11,200, 0.65 region I talked about.”

A majority investor believes this is not a big problem and predict that the gap will be filled soon. More than 100,000 followers of commentator and programmer Ivon on Tech were asked if Bitcoin can fill the gap of CME? And it’s impressive that approximately 60% of users responded that they think Bitcoin will solve its problem in the recent days.

Hard to Achieve?

Even so, not all managers are so optimistic.

Willy Woo, a prominent on-chain analyst, recently drop a comment below:

“I’m still cautious of another short term dump to fill the gap but so far it’s looking like it’s been front run for liquidity which is strongly bullish if we break resistance here. There’s a lot of bids in the spot orderbooks wanting to snap up the gap in the mid-high 9000s.”

In recent times, especially at the end of August, Woo’s predictions have been completely accurate about Bitcoin’s rise and fall as it falls to as high as $ 9,000 and then rebounds from $ 10,000. to $ 11,200 last week.

He still admits that Bitcoin’s medium-term trend is positive:

“Overall, I’m not expecting any mega dump, some chance of smaller whipsaws in the short timeframes, resistance is teetering. Not a bad time to get in if you’re a spot investor, given the longer range macro. There’s plenty of buy support below 10k, this is a buy the dip scenario.”

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