Peter Brandt Challenges Bitcoin CME Traders To “Go Short”
- Advertisement - Bitcoin has formed two successive gaps on the derivatives platform. - Advertisement - Veteran trader Peter Brandt appears to have taken a jab at Bitcoin traders who make decisions based on Bitcoin Chicago Mercantile Exchange (CME) gap formations alone. The classical chartist did this in a tweet today, pointing out that Bitcoin has formed two successive gaps on the derivatives platform; he tweeted: “Two huge unfilled gaps. I encourage you hot shot young guns to go short.” Two huge unfilled gaps. I encourage you hot shot young guns to go short $BTC pic.twitter.com/YVDiEhhifD — Peter Brandt (@PeterLBrandt) March 19, 2023 What is the CME Gap? To understand what the CME gap is, one must first understand how the CME operates. It is worth noting that while crypto can be traded round the clock on crypto exchanges, CME closes on the weekend and parts of the day. Hence, while the futures price on the CME is fixed during this break, Bitcoin ’s ...