Bitcoin CME Gaps Filled – No More Imbalances Left!
Current Market Overview & Potential Moves
Long Wicks:
The daily (1D) and weekly (1W) candles are forming long wicks, but these are simply filling previous wicks on their respective timeframes. This means they aren’t valid imbalances that need to be refilled, so they don’t necessarily signal a further downside.
CME Gaps:
Last weekend’s CME gap was fully closed, while the gap from the prior weekend was partially filled, which is often enough. There’s no technical reason for the price to drop just to complete the fill.
With no downside imbalances left to be filled, there’s no immediate reason to expect further declines. The only factor that could still influence a move down is the 1W 50 EMA, which was nearly tested (approx $1K away).