Bitcoin (BTC)Crypto News

BTC is about to expire on Friday, marking the next major resistance

Run this Friday, December 24th Bitcoin– Options contracts valued at approximately $ 684 million in Deribit Exchange. The maximum pain price – the strike price that brings the option buyers the maximum loss – is $ 48,000. The put / call ratio (PCR) is 0.67. Calls for a strike price of USD 64,000 have the highest open interest.

The buy / sell volume over the past two weeks shows that the call seller for the USD 52,000 strike is still calling that strike resistance considered for this decay.

BTC is about to expire on Friday, marking the next major resistance, Crypto Trading News

The Ichimoku cloud failed to act as a support for Bitcoin in a daily timeframe on December 4th, causing the price to drop by around $ 42.5,000. Now Bitcoin is trading below the Ichimoku cloud, which means that the old support becomes a new resistance.

A move to the cloud can be expected in the next few days. The question is, once the pullback completes, will Bitcoin be able to break out of the cloud like July 24th, or will we see lower prices like June 15, 2021?

BTC is about to expire on Friday, marking the next major resistance, Crypto Trading News

Bitcoin broke the descending channel in a 12 hour timeframe and completed the retreat. It is now trading at $ 48.6k. The possible resistances are shown in the table. The $ 52,000 level is critical. It seems that Bitcoin still has a hard way to go.

BTC is about to expire on Friday, marking the next major resistance, Crypto Trading News

Onchain analysis

After hovering between $ 46,000 and $ 48,000 in the past few days, the price has finally tried to break above $ 52,000.

The (average) estimated leverage ratio across all derivatives exchanges has now reached its new one ATH. Historically, significant spikes in this metric have resulted in price volatility that has resulted in massive liquidations of the highly leveraged futures contract.

BTC is about to expire on Friday, marking the next major resistance, Crypto Trading News

The above analysis was created by @N__E__D__A and @CryptoVizArt exclusively for CryptoPotato.

                                      .

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button