BTC: 90k as post expiry reaction, then 76k in play
Based on the TradingView chart of Bitcoin/Tether and considering the $3 billion options expiry today, here's what we can likely expect:
Immediate volatility - Expect increased price swings around the $85,000-$86,000 level as market participants adjust positions before and after expiry.
Continuation of the downtrend - The chart shows a clear descending channel (red lines), with Bitcoin having broken through a significant support level and potentially heading toward the next support around $59,700.
Potential consolidation near current prices if this level is close to the "max pain" point for expiring options.
Post-expiry reaction could yield either:
A quick bounce back to $90,000-95,000 if traders were predominantly in short positions
Further decline toward $70,000-75,000 if the options expiration coincides with broader selling pressure
The technical picture suggests we're in a correction phase of a larger bullish trend, though bearish sentiment currently dominates. The weekly chart shows Bitcoin is down 8.84%, having lost about $8,330 in value recently.
This options expiry could serve as a catalyst that either accelerates the current downtrend or creates the conditions for a relief rally, depending on market positioning.
Immediate volatility - Expect increased price swings around the $85,000-$86,000 level as market participants adjust positions before and after expiry.
Continuation of the downtrend - The chart shows a clear descending channel (red lines), with Bitcoin having broken through a significant support level and potentially heading toward the next support around $59,700.
Potential consolidation near current prices if this level is close to the "max pain" point for expiring options.
Post-expiry reaction could yield either:
A quick bounce back to $90,000-95,000 if traders were predominantly in short positions
Further decline toward $70,000-75,000 if the options expiration coincides with broader selling pressure
The technical picture suggests we're in a correction phase of a larger bullish trend, though bearish sentiment currently dominates. The weekly chart shows Bitcoin is down 8.84%, having lost about $8,330 in value recently.
This options expiry could serve as a catalyst that either accelerates the current downtrend or creates the conditions for a relief rally, depending on market positioning.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.