{"id":2707,"date":"2021-03-25T16:37:54","date_gmt":"2021-03-25T15:37:54","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=2707"},"modified":"2021-03-25T16:37:57","modified_gmt":"2021-03-25T15:37:57","slug":"what-next-the-number-of-options-bitcoin-falls-below-2-weeks-as-6-billion","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/what-next-the-number-of-options-bitcoin-falls-below-2-weeks-as-6-billion\/","title":{"rendered":"What Next? The number of options Bitcoin falls below 2 weeks as $6 billion"},"content":{"rendered":"\n

Bitcoin's<\/a> recent support fell to $53,000 as volatility recovers before an event expires.<\/h2>\n\n\n\n

The price of Bitcoin (BTC) was down 20per cent, at $62 000 at mid-March as a result of the recent all-time high. Since crypto markets are often volatile, this might be another normal pullback in the present bull cycle.<\/p>\n\n\n\n

Further upward momentum requires remedies, as markets cannot go up in a straight lines. In addition, on 26 March there is a record expiry of $6 billion in options, which frequently results in some volatility.<\/p>\n\n\n\n

It is also fairly common that the momentum of the market shifts when the options expire.<\/p>\n\n\n\n

$53K level has to become support to gain bullish momentum<\/h2>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n

Since the recent all-time high of $62,000, bearish support\/resistance flips, the 4-hour chart shows an obvious downward trend.<\/p>\n\n\n\n

However, after Tesla announced that it began to accept BTC for its vehicles (and to hold it), Bitcoin's prices rejected the critical resistance area of $56,500 at the most recent rally. As the price level could not be more upside down, renewed tests in the supporting zone of 53,000 dollars were inevitable.<\/p>\n\n\n\n

Since the supportive area of $53,000 has been tested several times in recent weeks, this level is unlikely to last this time. Thus, on the 25th of March, the price collapsed and fell to 51.500$.<\/p>\n\n\n\n

Therefore, the cost of Bitcoin now needs to return to an area of between $53,200-$53,800 to recover in the near term any bullish momentum. If this is not the case, the next support zone between $49,500 and $51,500 will most likely have more downside.<\/p>\n\n\n\n

Overall structure still heavily bullish<\/h2>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n

The BTC\/USD daily diagram still shows a bullish perspective that shows consistently higher and higher levels. To do so would still mean that the bullish building remains valid, a correction at up to 44,000$.<\/p>\n\n\n\n

In this respect, the price of Bitcoin is currently massive and will not drop any further, with support between 49,500 and 51,500 dollars.<\/p>\n\n\n\n

The barious divergence will not be confirmed until the market begins to fall below $44,000 and to drop below $44,000.<\/p>\n\n\n\n

Dollar showing strength<\/h2>\n\n\n\n
\"\"<\/figure><\/div>\n\n\n\n

The United States dollar once again demonstrates strength as yields also increase significantly. So the risk assets, including commodities and cryptocurrencies, falling is not surprising.<\/p>\n\n\n\n

For crypto markets, a rebounding USD, especially in the short term, is typically belittling. But this latest dollar upturn is probably temporary because it has a strong resistance. In addition, the structure still shows lower and lower highs, which means an upside-down trend is likely relatively soon.<\/p>\n\n\n\n

Therefore, if the dollar's momentum stops, it will be more upside for Bitcoin and the crypto-monetary market.<\/p>\n\n\n\n

A possible scenario for Bitcoin<\/h2>\n\n\n\n

The 4-hour Bitcoin chart shows a downward trend that would probably reject a test for the $53,200-$53,800. In this current price structure, therefore, the most likely downside is in the near term.<\/p>\n\n\n\n

A green area indicating a potential divergency or immediate bounce is the area to be observed in the chart above. If such an action happens, a higher level would be the ideal scenario for the bulls.<\/p>\n\n\n\n

Once such a lower rate has been established, the prices of Bitcoin will continue to climb at $68,000 and $82,000 for the next interest.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s recent support fell to $53,000 as volatility recovers before an event expires. The price of Bitcoin (BTC) was down 20per cent, at $62 000 at mid-March as a result of the recent all-time high. Since crypto markets are often volatile, this might be another normal pullback in the present bull cycle. Further upward momentum […]<\/p>\n","protected":false},"author":63,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-2707","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/2707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=2707"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/2707\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=2707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=2707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=2707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}