BITCOIN

Bitcoin Future Bull Div may offer a crystal ball on the next leg


The Chicago Mercantile Exchange, commonly called the CME, provides de-facto futures contracts for bitcoin since the end of the last bull market. But can price action looking to the future give a glimpse of the future?

If this crystal ball works, the end leg up can start, and it can start with a simple bullish divergence.

See the future of Bitcoin with CME

CME is the top BTC futures exchange for institutional traders and often an influential force in the market. So impressive that if any gaps are left on the CME charts over the weekend after the trading desk goes offline, they are filled with a high degree of accuracy within the next week.

These types of isolated gaps are common with speculative assets like Bitcoin and other cryptocurrencies. Not all such gaps are filled in the end, but their importance is undeniable.

Related Reading | How futures traders can see the Bitcoin shelf coming

Recently, the CME chart has started to be so slightly different from the price action of the spot exchange, which is enough to notice. Recently, the lack of a speed crossover over the daily deadline has led to a nasty fraud while CME is offline. There was never a bullish crossover at CME, so there was less bait for institutions.

Now, the CME Futures platform could give a possible future look at the next leg-up.

CME is showing a bullish divergence and a potential break of momentum | Source: BTCUSDT on TradingView.com

The last leg of the bull race starts with the flag at $ 82,000

Another variation can be seen in the CME BTC Futures Chart – a bullish divergence in the daily RSI, which closely matches the Bitcoin flying signal last September.

Related Reading | Bitcoin Golden Cross: All you need to know about bullish signals

A downward trend in the LMACD – illustrating a downward trend – waiting to break. If the same kind of momentum is followed, the bull market may follow the final stage.

BTC1!  _2021-09-23_13-31-02

This potential bull flag has a target of $82,000 | Source: BTCUSDT on TradingView.com

These signals prove very little of their own and isolation is only confirmed by insight. However, the huge bull flag with a target of $ 82,000 could eventually serve as all the evidence needed.

A breakout of the bull flag pattern may still come with several revisions of the top trend line, so more side effects are possible before the reverse is implemented. Of course, given how extreme the recent sales were and the still-lasting fear of the Evergrand, the recent bounce could not be expected by crypto holders.

Follow Ony tonispilotrobTC on Twitter Or through Tonitrade BTC Telegram. Content should not be considered as educational and investment advice.

Featured image from iStockPhoto, Charts from TradingView.com





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