The price of Bitcoin (BTC) declined by 2% in under an hour in a sharp correction on Nov. 2, catching traders off guard. Coincidentally, the CME Bitcoin futures market opened with a new gap, making $13,100 an area of interest for sellers.
Three technicals reasons likely fueled the abrupt decline in the price of Bitcoin: CME gap, major resistance and monthly moving averages (MAs).
There are now four CME Bitcoin futures gaps
The CME Bitcoin futures market closes during the weekend and on holidays….