Bitcoin Changes Uptrend to Downtrend
At the beginning of the week, we said that Bitcoin will rise to $11,600 and we were right. It was local growth.
Bitcoin options expire today in the amount of 62,000 BTC or $700 million. This is an important event that could trigger a breakdown of the $11,000 level. At the same time, with a high probability, we can see the price of $10,000 per bitcoin in the near future.
On the weekly timeframe, the RSI and Stochastic indicators are still in the overbought zone. In addition, candlestick patterns also indicate a trend reversal. All this speaks of the imminent fall of bitcoin.
Bitcoin options expire today in the amount of 62,000 BTC or $700 million. This is an important event that could trigger a breakdown of the $11,000 level. At the same time, with a high probability, we can see the price of $10,000 per bitcoin in the near future.
On the weekly timeframe, the RSI and Stochastic indicators are still in the overbought zone. In addition, candlestick patterns also indicate a trend reversal. All this speaks of the imminent fall of bitcoin.
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