This morning, 30 April 2020, 0600 CET, Bitcoin (BTC/USD) has rapidly advanced from yesterdays strong rally to fill the gap open from 8 March at 9100. 9073 to be precise. This was expected to happen as a matter of historic market probability. Typically these moves are not finished immediately but risk weight and trend have become higher risk. Speculative longs therefore should exit.
There is one old gap open left which is at 2800 from mid 2017. Although desired by many in the crypto space, BTC is not ‘real money’. We expect the 2800 gap to be filled sometime in the future which could coincide with a monetary reset which appears hard to avoid in this current scenario of virtually unlimited central bank debt financing.