{"id":563594,"date":"2020-09-03T18:29:24","date_gmt":"2020-09-03T15:29:24","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=563594"},"modified":"2020-09-03T22:14:55","modified_gmt":"2020-09-03T19:14:55","slug":"bitcoin-btc-could-be-on-a-path-to-fill-a-cme-gap-at-9700","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-could-be-on-a-path-to-fill-a-cme-gap-at-9700\/","title":{"rendered":"Bitcoin (BTC) Could Be on a Path to Fill a CME Gap at $9,700"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Bitcoin took a nosedive from $11,600 to $10,460 levels in 6 hours<\/strong><\/li>\n<li><strong>BTC has lost several support zones on its way down<\/strong><\/li>\n<li><strong>Over $348 Million in Bitcoin contracts has been liquidated in the last 4 hours<\/strong><\/li>\n<li><strong>Bitcoin could well be on a path to fill a CME Gap at $9,700 set in July<\/strong><\/li>\n<\/ul>\n<p>The month of September has <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-is-stuck-in-the-mud-dave-portnoy\/\" target=\"_blank\" rel=\"noopener noreferrer\">continued to bombard<\/a> the price of Bitcoin (BTC). Earlier today, the King of Crypto fell hard from $11,600 levels to retest $10,460. This was a quick drop of approximately 9.8%. On its way down, Bitcoin has lost several crucial support zones including <a href=\"https:\/\/en.ethereumworldnews.com\/11600-11200-two-bitcoin-btc-support-levels-to-watch-in-aug\/\" target=\"_blank\" rel=\"noopener noreferrer\">$11,600<\/a>, $11,500, $11,200 and $11,000.<\/p>\n<h2>Over $348 Million in BTC Liquidations in the last 4 Hours<\/h2>\n<p>Due to Bitcoin&#8217;s downward trajectory, over $366 Million in Bitcoin trading positions has been liquidated in the last 24 hours. Of this amount, $322 million has occurred in the last four hours and in tandem with BTC retesting $10,460.<\/p>\n<p>Below is a screenshot of liquidation data of the last 4 hours that also includes liquidated positions of other digital assets such as Ethereum (ETH), Litecoin (LTC), EOS and more.<\/p>\n<figure id=\"attachment_563595\" aria-describedby=\"caption-attachment-563595\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd.jpg\"><img class=\"wp-image-563595 size-large\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-1024x350.jpg\" alt=\"\" width=\"1024\" height=\"350\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-1024x350.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-300x102.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-770x263.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-240x82.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-717x245.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd-150x51.jpg 150w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/Liquidations-Sept-3rd.jpg 1271w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><figcaption id=\"caption-attachment-563595\" class=\"wp-caption-text\">Screenshot courtesy of bybt.com<\/figcaption><\/figure>\n<h2>Bitcoin (BTC) Could Be On a Path to Fill a CME Gap at $9,700<\/h2>\n<p>Bitcoin&#8217;s fast and furious drop below $11,000 has left many traders wondering whether the CME gap at $9,700, would finally get filled. The gap was set on the 27th of July and resulted in Bitcoin breaking the $10k ceiling,\u00a0 eventually <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoins-btc-rally-is-a-picture-perfect-advance-so-far-bollinger\/\" target=\"_blank\" rel=\"noopener noreferrer\">breaking $11k and $12k<\/a> in the days that followed.<\/p>\n<p><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th.jpg\"><img class=\"aligncenter size-full wp-image-563596\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th.jpg\" alt=\"\" width=\"992\" height=\"505\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th.jpg 992w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th-300x153.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th-770x392.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th-240x122.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th-717x365.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/09\/CME-Gap-July-27th-150x76.jpg 150w\" sizes=\"(max-width: 992px) 100vw, 992px\" title=\"\"><\/a><\/p>\n<h2>What the Bitcoin Chart Says<\/h2>\n<p>At the time of writing, Bitcoin&#8217;s price has slipped under the $10,800 support zone and is currently trading at $10,700. The 6-hour chart points towards a potential short term bounce that could have Bitcoin attempting to reclaim $11,200.<\/p>\n<h2>Reports of Bitcoin Miners Selling<\/h2>\n<p>However, Bitcoin&#8217;s short term future might not be an easy ride as new information points towards several miners moving unusually large amounts of Bitcoin to crypto exchanges. This activity began yesterday, September 2nd, and was captured by the team at Unfolded in the following tweet.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Miners are moving unusually large amounts of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitcoin<\/a> since yesterday. <\/p>\n<p>Poolin, Slush, HaoBTC have taken the bitcoins out of the mining wallets and sent some to the exchange.<\/p>\n<p>via <a href=\"https:\/\/twitter.com\/cryptoquant_com?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">@cryptoquant_com<\/a> <a href=\"https:\/\/t.co\/dXRir7kcdF\" rel=\"nofollow\">pic.twitter.com\/dXRir7kcdF<\/a><\/p>\n<p>&mdash; unfolded. (@cryptounfolded) <a href=\"https:\/\/twitter.com\/cryptounfolded\/status\/1301429725404041216?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">September 3, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Therefore, Bitcoin could be in for a rough few hours and\/or days as the mentioned miners offload their BTC. Once this is complete, Bitcoin might have some room to breathe and possibly still maintain <a href=\"https:\/\/en.ethereumworldnews.com\/report-bitcoins-btc-weekly-chart-hints-of-a-10k-retest\/\" target=\"_blank\" rel=\"noopener noreferrer\">the $10,000 psychological price zone<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Bitcoin took a nosedive from $11,600 to $10,460 levels in 6 hours BTC has lost several support zones on its way down Over $348 Million in Bitcoin contracts has been liquidated in the last 4 hours Bitcoin could well be on a path to fill a CME Gap at $9,700 set in July The month of September has continued to bombard the price of Bitcoin (BTC). Earlier today, the King of Crypto fell hard from $11,600 levels to [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":61004,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[1119,1233,6961,271],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563594"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=563594"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/563594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/61004"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=563594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=563594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=563594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}