It has happened before that Bitcoin ends with a price of Maximum Pain for option buyers, and this seems to be the case again
We will see
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As we see in the graph, the maximum pain for option buyers is $ 47,000. It is said maximum pain because it causes the greatest loss to buyers of options that expire this Friday.
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Option sellers manipulate the price of bitcoin, selling bitcoin bringing the price closer to pain for buyers
As we can see, about 1800 bitcoin have been sold today
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And in the week about 38,500 bitcoin were sent to the exchanges for sale.
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Opinion
The price of Bitcoin has once again supported the downtrend line and has rebounded generating a daily candle, bullish engulfing at the time of writing this article.
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So we may already be seeing an upward rebound, it would be important for bitcoin to end the day above the 200-period midline.
%2016.28.53.png)
After Friday, Bitcoin will stop having the downward pressure and it may be that its price will recover little by little.
If we consider that other markets have returned to historical highs such as the S&P 500, Nasdaq, we can consider that Bitcoin has the potential to continue rising.
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What do you think?
Posted Using LeoFinance Beta
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