{"id":7789,"date":"2022-02-13T13:32:16","date_gmt":"2022-02-13T13:32:16","guid":{"rendered":"http:\/\/egrowonline.com\/?p=7789"},"modified":"2022-02-13T13:32:16","modified_gmt":"2022-02-13T13:32:16","slug":"bitcoin-inches-towards-higher-weekly-close-with-cme-futures-gap-in-focus","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=7789","title":{"rendered":"Bitcoin inches towards higher weekly close with CME futures gap in focus"},"content":{"rendered":"


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Bitcoin (BTC<\/a>) was on the cusp of making a new higher weekly close on Feb. 13 as bulls kept the market above $42,000.<\/p>\n

BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

Bitcoin: Potential CME gap to come<\/h2>\n

Data from Cointelegraph Markets Pro<\/a> and TradingView<\/a>\u00a0tracked fairly stress-free conditions for BTC\/USD over the weekend, with the weekly candle set to conclude in under 12 hours.<\/p>\n

The pair had briefly dipped below the $42,000 mark before recovering, this setting it up to challenge last week’s close of $42,400 on Bitstamp.<\/p>\n

Should it succeed, the close would be a three-week high, Bitcoin nonetheless keeping traders guessing\u00a0 as a matter of a few hundred dollars separated the upcoming close from the last.<\/p>\n

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If #BTC<\/a> loses this 4HR Range Low as support in the short-term, that could jeopardise a bullish Weekly Close<\/p>\n

At this stage, $BTC<\/a> needs continued consolidation at these highs for the next few days to secure a favourable Weekly Close#Crypto<\/a> #Bitcoin<\/a> pic.twitter.com\/bAzNDWqivB<\/a><\/p>\n

\u2014 Rekt Capital (@rektcapital) February 11, 2022<\/a><\/p><\/blockquote>\n

Others were focused elsewhere, among them Cointelegraph contributor Micha\u00ebl van de Poppe, who argued that Monday’s CME futures open would likely dictate a near-term price target regardless.<\/p>\n

“Don\u2019t be fooled by any move of Bitcoin during the weekend. In the end, the price will come back to CME close of Friday,” he reiterated<\/a>.<\/p>\n

CME futures ended Friday at $42,390 \u2014 almost exactly at the point of last week’s spot price close.<\/p>\n

CME Bitcoin futures 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n

XRP stands out in flat market<\/h2>\n

On altcoins, the calm conditions for Bitcoin played out in a broad lack of action for out-of-hours traders.<\/p>\n

Related:\u00a02 key indicators cast doubt on the strength of the current crypto market recovery<\/a><\/em><\/strong><\/p>\n

Out of the top ten cryptocurrencies by market cap, only XRP<\/a> managed significant gains, climbing over 6% in the 24 hours to the time of writing to cap weekly returns of more than 25%.<\/p>\n

XRP\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n

The move came amid an ongoing legal saga<\/a> between Ripple, the major XRP token holder, and United States regulators over its status as a security.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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: TradingView Bitcoin: Potential CME gap to come Data from Cointelegraph Markets Pro and TradingView\u00a0tracked fairly stress-free conditions for BTC\/USD over the weekend, with the weekly candle […]<\/p>\n","protected":false},"author":1,"featured_media":7790,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[37],"tags":[50,752,5026,2356,2646,4512,298,5025,675],"class_list":["post-7789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-close","tag-cme","tag-focus","tag-futures","tag-gap","tag-higher","tag-inches","tag-weekly"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/02\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvYTBhYzFjNGQtYjZmMi00ZDNhLTgwZWUtYWIyMzJjYzZlNGMwLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7789"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7789\/revisions"}],"predecessor-version":[{"id":7791,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7789\/revisions\/7791"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/7790"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7789"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}