Bitcoin inches towards higher weekly close with CME futures gap in focus
The end of the weekly candle could soon give way to a more pressing $42,400 target should the market move significantly overnight, one trader says. Bitcoin (BTC) was on the cusp of making a new higher weekly close on Feb. 13 as bulls kept the market above $42,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin: Potential CME gap to comeData from Cointelegraph Markets Pro and TradingView tracked fairly stress-free conditions for BTC/USD over the weekend, with the weekly candle set to conclude in under 12 hours.The pair had briefly dipped below the $42,000 mark before....
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It's a modest weekly gain for Bitcoin buyers as Saturday's progress comes full circle back to square one the next day. Bitcoin (BTC) retested $47,000 on Sept. 19 as the weekly close looked set to hinge on the CME futures gap.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin comes full circle after erasing gainsData from Cointelegraph Markets Pro and TradingView showed mixed signals from BTC/USD as the week drew to a close.Saturday had seen a stronger rally from the pair, which subsequently gave way to ranging behavior amid an absence of clear direction."Happens quite often....
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