๐Ÿ”Ž Understanding Bitcoin’s gaps!! + Analysis for BINANCE:BTCUSDT by ShawnMCR

Hello, dear TradingView members .
This idea is an analysis explaining Bitcoin’s gaps.

What is a gap?

Gaps are breaks in price

with a low volume of trading in between.

In forex markets, gaps get filled quickly,

However, in cryptocurrency, it takes months.

Or even years for the gaps to get filled.

The green parallel lines are the gap that is filled because the price got rejected

by resistance one, consolidated below it, and then

passed it once more, broke resistance, and entered

a new price zone

Now by considering the history of cryptocurrency

in pullbacks and filling the gaps and consolidations,

The purple area can be the path we need to pass in order

to get back to new highs.

The Bollinger Bands are wide and pointing downwards.

The price is pushing down on the lower Bollinger Band , a general sign of a descending market.

The Speedometer indicator shows Sell volumes on the market for Bitcoin on a 1D interval.

Now that the price has broken the downtrend channel on the chart, the upper band works as support.

Let me know if you guys have any questions;

I will be more than happy to help.

Good luck, and thank you.

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