Sitting near $9,460 at press time, the future looks brighter for Bitcoin compared to when its price floated around $7,500, as long as the asset can hold current levels and press forward.
Bitcoin also posted another gap on the Chicago Mercantile Exchange's BTC futures chart, indicating a possible drop ahead.Daily crypto market data.
The CME launched its cash-settled Bitcoin futures trading product in December 2017.
In contrast to the Bitcoin trading products and exchanges commonly seen in the crypto space, CME only trades Bitcoin futures during the week, opening and closing with the rest of Wall Street's traditional markets.
If Bitcoin's price makes a big move while the CME market is closed, it can leave a gap in the candles on the charts.
As shown on the CME futures chart, Bitcoin has a sizeable gap in price between $9,345 and $8,904, with the Oct. 25 candle body as low as $8,730.
Bitcoin's crypto exchange-based charts reveal the asset's price to have spent significant time below the 200-day MA over the past several weeks, while the CME chart only shows the 200-day MA holding as support.
Peculiar price mix-match between CME Futures and Bitcoin's spot price.
Many of the gaps on the CME Bitcoin futures chart have filled in the past, making the case for a move back down below $9,000.
The asset's price is decisively above the 200-day MA, and the CME gap is not really much lower than current prices.
CME Bitcoin Futures Chart Posts Another Gap to Fill Near $8,900
Published on Oct 28, 2019
by Cointele | Published on Coinage
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