One of the features of the cryptocurrency market is that it can be traded 24/7. Most traditional exchanges are subject to a specific opening and closing time. The price difference that occurs during this holiday is called the “Gap”. This event, which we call a gap in Turkish and which traders can use as an indicator, may cause a jump in Bitcoin price, according to legendary analyst Michaël van de Poppe.
Bitcoin is having a cautious weekend
When a Bitcoin futures contract closes on Friday and opens on Sunday, there is always a price gap. The price difference is the CME Bitcoin gap. Such movements can be considered as an indicator, in addition, when positive or negative news comes, price movements are not recorded, so it requires strict monitoring on the side of fundamental analysis. Poppe also interprets the reaction of Bitcoin price as “cautious”, from the low of $ 55,705.18 on Friday. cryptocoin.com Michaël van de Poppe, whose analyzes we share as the CME Gap, made a series of tweets about the CME Gap difference.
As for the Bitcoin CME gap, Poppe says the price could return to the CME gap over the weekend or the following days. We can wake up to $50,000 or $62,000 Bitcoin price Friday, the analyst tweeted on Thursday. had said. In addition, even though the price has declined to the $48-50,000 range, we are still in the bull. thinks. In Poppe’s analysis of November 21, Bitcoin’s retracement to critical support level and then a big leap can be expected. The analyst says:
As I said before, Bitcoin’s good move. Remember, but usually the price returns to the CME gap over the weekend or the following days. At least; a big jump from support, but another test wouldn’t surprise me.
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