The stock-to-flow model has been pretty accurate so far, but I wouldn't mind if the price had deviated a bit for the better. I'd be ecstatic if Bitcoin could get to $100,000 by the end of next year, although it'll take quite a rally to get there. For now, it looks like BTC's price is standing on very fragile ground. That CME gap at $9,700 might just get filled after all...
Hopefully not. But it's one of the few around the current trading range that is yet to be filled. And you know how the price just loves to fill those gaps...
Yeah, I feel like one could trade Bitcoin using nothing but CME Futures gap as an indicator. Seeing how we've been seeing such low volatility, and a seemingly weak price action, it might just swing by to fill that gap. At least once it does that, we know that it can't get any lower. I'll be happy to be wrong on this one though 😖
It's certainly looking that way at the moment isn't it... The momentum is gone, perhaps a gap fill is our next move.
Aye, but there was a slight pump and dump following FED Powell's speech. I genuinely have no idea of where Bitcoin's going to go next, now. It looks like there's some renewed momentum to push it up, but will it be enough to overcome the pullback? It could go either way now 🙃