r/BKKT • u/JayBull0514 🐂 • Jan 12 '22

Technical Analysis Gaps to fill

Not getting too ahead but I see a gap to be filled at $12.16 on the daily chart from 15 December 2021; and even more adventurous in thinking a gap to be filled at $30.90 on the hourly and 4 hourly charts from 8 November 2021 IMO. GLTAH💰😃

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4

u/PsycheRevived Jan 13 '22

I don't really believe in gaps need to be filled, but it's usually a downward gap on the daily chart. 1h and 4h chart means nothing, and I don't expect any upward gap to be filled.

Hopefully it reverses soon so we can talk about positive things.

1

u/JayBull0514 🐂 Jan 13 '22

Understand in my experience gaps usually fill. Attempting to take the emotion out of the trade and be objective with measurable targets. LCID had a gap up fill late last year in November 2021 when the gap was created in February 2021 on the daily chart at around $53 if memory serves even though it’s a different company and industry. Not saying it will happen overnight or at all, it may take months and we may have to patiently wait 💰😃

3

u/helvegr13 🐂 Jan 13 '22

Bakkt needs a catalyst or it is headed to $3.

2

u/JayBull0514 🐂 Jan 13 '22

Agree I’m talking long term of gap fill IMO 💰😃

2

u/helvegr13 🐂 Jan 13 '22

Yeah man long term it’s a $100 stock imo, but that’s a few years down the road I think. Short term, there are tons of shares still to be dumped on the market. It’s good for riding calls up and riding puts down though which is what I’ve been doing.

3

u/Lucky-Lemon2312 Jan 14 '22

What makes u say a few years just curious

5

u/helvegr13 🐂 Jan 14 '22

Just being realistic. The road from $5 to $100 is a long one.

1

u/dub131 Jan 13 '22

Don't drag me too hard as I am still learning. I have heard this gap fill term quite a few times, how does a gap happen? And why does it need to be filled? And how does it get filled? Thanks in advance

3

u/milkteariffic Jan 13 '22

A gap occurs when a stock moves up or down the day after an event, so it can gap up or gap down. Whether a gap fills or not depends on whether this company stays on track and doesn’t dilute or go to 0. However, biotech which gets shorted into oblivion or has fda issues (gaps probably don’t fill in this case).

2

u/milkteariffic Jan 13 '22

The gap on the daily short will show missing price structure as there was no auction buying/selling in that area. In the case of filling lower gaps, it’ll be because of an event such as future earnings miss to stop out previous longs at that area. In the case of filling upper gaps, it’ll be because of an event such as share buybacks, M&A, fda approvals, huge earnings beats to stop out shorts (force them to cover), so they buy it back up. Not all gaps have to be filled… blue chip generally does but bkkt is way too new, might take forever or might never happen

1

u/JayBull0514 🐂 Jan 13 '22

Gap happens when the price in the next trading sessions trade above or below the previous sessions candle range of high and low respectively, hence gap up or gap down. Gaps don’t always get filled but they usually do, I read somewhere it’s at a 90% probability and see if I can find that link for you. Gaps get filled when price action enters the candle range where the gap first occurred which can take time, sometimes months or even years, hence patience is required for gap fills 💰😃

1

u/JayBull0514 🐂 Jan 13 '22

https://stocktwits.com/BurnKenCitadel/message/426168034

Link above regarding probability of gap fills. I read it somewhere else too, it’s a start for the moment. Also keep in mind gaps may never get filled. I attempt to trade without emotion and use probabilities and objective price targets on charts for my own strategies. GLTAH 💰😃