Bitcoin Bounce? Caution, $3B Options Expire!
Updated
We are having a bounce short-term on the BTCUSD trading pair.
This is good news but I am warning caution.
Tomorrow is Friday and $3 Billion worth of options are expiring.
The options expiry date is normally a bearish event for Bitcoin.
You can have a bounce such as is happening now followed by a bigger drop (red arrow).
If the resistance can be taken out (yellow rectangle/downtrend line), additional growth is possible.
Better to wait and see how the market will react when the options expire... This is only a little 24 hours away.
What's your take on the Bitcoin options expiration date?
Hit LIKE and Leave us a comment.
Namaste.
This is good news but I am warning caution.
Tomorrow is Friday and $3 Billion worth of options are expiring.
The options expiry date is normally a bearish event for Bitcoin.
You can have a bounce such as is happening now followed by a bigger drop (red arrow).
If the resistance can be taken out (yellow rectangle/downtrend line), additional growth is possible.
Better to wait and see how the market will react when the options expire... This is only a little 24 hours away.
What's your take on the Bitcoin options expiration date?
Hit LIKE and Leave us a comment.
Namaste.
Note
Just as we suspected.A bounce leading to a strong drop.
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