Bitcoin

for this reason, it sinks in bitcoin to 9.700 dollars

It is still very good, with the price of bitcoin, the price of sand at the 11,000-us dollars (9.357 euro) to you. But it remains the case that really the case? According to some analysts, may be we will soon see a significant reduction would expect. It all has to do with a gap in the prices of the chicago mercantile bitcoin futures contracts. What’s the difference?

The difference between the CME Group and the cryptobeurzen

Bitcoin allows you to 24 hours a day, 7 days a week, and buy it on the international cryptobeurzen. However, you can trade in bitcoin futures on CME Group’s website. You don’t really bitcoin is, but to speculate on the price of bitcoin.

The main difference between the futures market of the CME Group, and the bitcoinhandel on the stock exchanges that CME Group is a closing time for. CME will close its doors on Friday night before 23:00, and open again on Monday at 00:00 (both pacific time).

But in the meantime, is moving in the direction of the bitcoin is on the cryptobeurzen as usual. And so it’s possible that the closing price of Friday at the CME Group, is different from the openkoers on Monday night. Thus, a gap between the close price and the openkoers do you call a hole or a gap in the English language.

The holes need to be filled

Now, the idea is that this gap is filled within the opening of the CME Group. This means that the bitcoin exchange rate is the value of the hole reference. Of course, this could also be a self-fulfilling prophecy, it is precisely because investors want to see happen as well.

Because of the bitcoin price at the weekend, has started to increase, there is a gap between 9.665 usd (8.221 euros) and a 9.925, the $ 8.442 million). That is, the hole is filled? The course, now with a 9 per cent fall compared to right now.

The situation now is similar to that in 2019 at the latest

This may seem a bit far-fetched, but if you look at the past, then it may very well be. In may of 2019 at the latest, took about the same situation. On the weekend of the 11th and 12th of may, it increased the rate of 6.410 usd 6.980 of the dollar. The price shot to $ 8,000, but he was looking at over the next several days, the gap in the direction of the CME was on its bitcoin futures contracts.

Course you can fix to make it

Whether it’s a hole to be filled, the rate may be in the next few days will be a correction to make. That is, it is not surprising, and the price has been over the last few days to be very hard to increase. You can see this also with the Relative Strength Indicator (RSI) to the chart below.

The RSI is an index between 0 and 100 that is to build on the momentum of the price chart. On top of the purple band, bitcoin is overbought, and the price is hard to increase, and as a correction, it is a logical step.

Just as it is in may 2019 at the latest, this does not necessarily mean that the upward trend is over, but it could also be a stop on the way up. In may of last year, a lap of the course, after the filling of the hole to the height of nearly 14,000 u.s. dollars (11,900 euro).

So, what can we expect from the course?

The days of boring price action, seem to be over, with the bitcoin price moves it is hard going up and down. What’s the exchange rate for the next few days? Two scenarios are shown below in the chart are back.

Bullish
For the price, it seems that the last couple of days rest, and was found to be in the orange band, between 10.800 usd (9.184 euro) and up to 11,000 dollars to 9,354 million). If the stock price rises, than it will be $ 12,000 (10.205 euros) to the next resistor, and the green line on the chart. In August of last year, is also an important area, as the price teruzakte to a capacity of 9,500, the $ 8.079 million).

Bearish
The negative scenario is that the bitcoin is in the hole to locate between 9.665 usd (8.221 euros) and a 9.925, the $ 8.442 million). This is the red bar on the graph.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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