Bitcoin has a tendency to fill the gaps, especially on CME and that is what just happened minutes ago. The gap on CME was filled with the price going down from $9,300 to under $8,400. A $1,000 candle that did not affect other exchanges where the price was stable near $9,300. After the move down the price returned at the previous levels above $9,200.
— Nick Cote (@mBTCPizpie) November 5, 2019
Crypto analyst Willy Woo thinks that price action on other exchanges is suspicious more than usual. Because the price action did not hit other exchanges like Bimex, Binance, Bitfinex, Bitstamp, etc.
I cannot believe how crazy trading BTCUSD on the short term is right now. The gap on the CME has filled already. It’s thinly traded yes. But man, I’m highly suspicious of the price action across all the exchanges of late, more so than usual. https://t.co/M3Pf4Cmksq
— Willy Woo (@woonomic) November 5, 2019
It is unclear how this move will play on the charts in the next hours while many think that now the path for the upside is clear after the CME gap filled.
On the other side, many think that this filled gap might be a front run of big players to the downside, and of course, getting rekt bulls on CME.
While the dump to fill the CME gap may change the sentiments, the Crypto Fear & Greed Index is neutral.
At the time of writing bitcoin price is $9,285 according to coinmarketcap.com