After Bitcoin managed to break the $7,000 level earlier this week, it has not moved much higher, however, this weekend BTC may fill the CME gap, some analysts believe
On April 16, Bitcoin finally recovered its position above the $7,000 level after the news about the new $2,000 stimulus checks had begun to spread, and since then it has been trading in a range, failing to rise above $7,150, as per the figures from CoinMarketCap.
At the time of writing, the king crypto is sitting at $7,136. However, some traders expect that this weekend BTC might rise to fill the CME gap and then drop.
Trip to the highs (CME gap filled)
Analyst Michael van de Poppe remains neutral on BTC, expecting it to continue trading in a range. Even though he does not see any particular set up for further BTC movement yet, he says that it would be reasonable if BTC surged to take a $7,198.9 high (filling a CME gap there) and then go down – back to the $6,940 area on Monday.
Trader ‘cryptohulk’ is of a similar opinion, assuming that this weekend BTC just might fill the CME gap. Until that happens, he does not intend to share any more charts with BTC price analysis.
Hidden bullish divergence
Trader ‘Bitcoin Jack’ has shared a BTC chart which shows a hidden bullish divergence.
Bitcoin to trade in a range before soaring?
Trader ‘Lvercoin’ believes that the flagship crypto might be trading in a range for a while, however, when it is over, Bitcoin should make a movement up the chart.