$IBIT 4-Hour Chart Gaps Continue to Fill and Leave Clues for BTC

11 set

This new leading 'indicator' for lack of a better term, continues to be accurate and 100% since the IBIT inception. Every single gap has filled, except one recent one which I believe will resolve to the downside at some point below.

The 2nd IBIT Gap just filled on this mini-rally today, so I think we head lower to fill the other lower unfilled gap as noted.

Although it's showing a nice hammer reversal candle and Bullish Engulfing candle here.

So If it breaks and holds above $33, then we likely push higher for a time.

There's no time limit for filling these gaps unfortunately.

But I think we'll re-test recent price action on Bitcoin around 54K, which would be a nice buying opportunity.

Unless the markets continue to get spooked with election / econonomy fears.

Also, since the CPI came in as expected there's less reason for the FED to drop rates .50 basis points which is what I thought could be a short term catalyst to rally prices. As of today's CPI news, there's an 85% chance of just a .25 basis point cut.

I can't foresee any positive bullish news in the short term, so I'm expecting September to continue to be rangebound, choppy, and re-test recent lows.

BTC.D does look bullish here, so I'm focusing attention on Bitcoin and SOL buying zones mostly.

Really curious to see if and how long this 4-hour IBIT chart and 'gap trading' continues to work...

Shhhhh, for now I've found something new that's working :)

Feel free to like and share.

More info in my bio.

- Brett