Bitcoin to $18,500? CME Futures Gaps Suggest

Bitcoin began an uptrend recently with many analyst pointing out a return of the bull market, though it is currently taking a recess which is not seen as a bad thing by analysts, the bull market is already in the air and many are keeping their fingers crossed for a short term bull trend, CoinTick previously reported a rise in Crypto interest. But just how high a surge can you predict?

A CME Bitcoin Futures charts of the previous bull has given a clue or just its own suggestion. In the December 2017 Bitcoin collapse, it left two gaps on the CME Charts at the $17,700 and $18,500 price which suggest the most valuable Blockchain asset may just be ready to bounce back up to that unfilled gap in the next bull run which may just be the current run.

So, is there a big deal in the space previously left? yes, in fact it is a concept in the Finance field. “filling the gap” is a financial concept where an asset returns to previous price levels where it previously left a gap in the chart due to the price of the asset rising or declining quickly while trading is offline so when trading resumes, the price of the asset is significantly lower or higher than it was at close, leaving a gap. The gap usually attract a possible return. This is a known concept and Bitcoin already has a record of this occurrence before.

That is a prediction of CME Futures Charts though, it is up to you to make your own prediction and lets see how far Bitcoin can go.

Author: CoinTick Editorial

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