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Understanding the "CME Gap".
The Chicago Mercantile Exchange or @CMEGroup is the largest regulated futures exchange in the world and trades Bitcoin, Ethereum, Solana and XRP. The exchange is open NY stock market times. Currently, Bitcoin futures on CME trade Sunday through Friday, from 6 p.m. to 6 p.m. EST daily. It has recently announced it will begin trading 24/7 365 but no official date has been set.
Until then, when the market closes on Friday and reopens on Sunday, a "gap" is created in the price because Bitcoin futures continue trading on offshore unregulated exchanges like #Binance and now on semi- regulated exchanges like #Coinbase. So over the weekend the price moves.
Typically, but not always, the @CMEGroup gap will be filled. Meaning the price will be manipulated back to cover the gap.
Yesterday the manipulators got to $115300 which is the top of the gap (see below), but the buying pressure was too strong and they could not fill the gap.
There is a non zero probability they will try to fill this gap again to $114300 but the defense of this gap last night was impressively bullish.
1 month ago: 'God, please just give me the chance to get breakeven. I'll sell this time, I promise, I won't be greedy'
Now: Fck it, I can get another 3x out of this thing, let's roll