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Bitcoin Fills New Futures Gap as Bullish BTC Heads to $12K

A retest of $11,500 gives the impression that the bulls are not done when it comes to Bitcoin, which convincingly bounced off $11,000. Bitcoin (BTC) rose to fill a significant gap in its price history on Aug. 3 as bulls remained in control and took BTC/USD towards $12,000.

Bitcoin Fills New Futures Gap as Bullish BTC Heads to $12K

Data from price charts including Coin360 showed the largest cryptocurrency rising once more on Monday, after a correction to $11,000. Earlier, Monday trading began with a $150 “gap” in Bitcoin futures markets on CME between $11,450 and $11,600.

As Cointelegraph reported, anticipation immediately built around Bitcoin rising to fill the void, in line with historical tendencies over the past year. Another gap between $9,660 and $9,930 was already in place, but given the bullish price action of the past two weeks, hopes were high that the first to be filled would be higher, not lower.

At press time, BTC/USD circled $11,400, having risen to retake the lower bound of the gap but so far not overcoming resistance at $11,500. The weekend saw a brief spurt to $12,000 before a sudden correction resulted in a $1,200 drop within a matter of minutes.

Source: FXPro


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