Bitcoin (BTC) May Rise To Fill The CME Gap before Price Correction

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Almost 24 hours back, the crypto market is seen bullish as the price of BTC has mounted above $7,000.
  • Due to the new $2,000 stimulus checks that started to spread, Bitcoin regained to its potential position above $7,000 and since then it is trading at a level of $7,132.82 as per CoinMarketCap figures at the time of writing this article.
  • Moreover, some enthusiast still finds that this weekend BTC may rise to plug the CME gap and will then drop.

Almost 24 hours back, the crypto market is seen bullish as the price of BTC has mounted above $7,000.

BTC may rise to plug the CME gap

Due to the exclusive $2,000 stimulus checks that started to expand, Bitcoin regained to its potential position above $7,000 and since then it is trading at a level of $7,132.82 as per CoinMarketCap figures at the time of writing this article.

Several crypto traders worldwide assume that COVID-19 is the key reason to slow down the digital ecosystem. This made a negative impact on equity markets as well as digital currencies that showed flexibility after Monday’s price drop.

Moreover, some enthusiast still finds that this weekend BTC may rise to plug the CME gap and will then drop.

The king coin will continue to trade in a range

On the other side, the analyst Michael van de Poppe reacts neutral towards the BTC price range. He expects that the king coin will continue to trade in a range. As per him, BTC uplifts $7, 198.9 high and then drops to $6,940 level on Monday.

Many popular traders have reacted towards these figures by sharing their reactions on Twitter. The trader “cryptohulk” Tweeted regarding the figures that this weekend BTC will make a move by filling the CME gap first.

A market analyst Bitcoin Jack tweets a BTC chart and says the BTC deviation that nobody is aware of, he called it “Bullish hidden divergence.”

Most of the traders are still uncertain about their price predictions for BTC in the upcoming weekend. Some believe that the price of BTC will remain stable and will not drop much lower than the current week’s performance.

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