Here is today’s Bitcoin analysis.
The nearest overhead options wall is at $85,000.
There also appears to be a wall at $82,000, although it is smaller than the one at $85,000.
Hedging demand is concentrated around $80,000–$82,000, which may draw the price toward this range.
The downside options wall is at $79,000.
Another key downside level is $78,000, although support there is weaker than at $79,000.
A key turning point for market makers is around $80,000. While the price remains above this level, volatility is more likely to be suppressed, making technical support and resistance levels more likely to hold.
Implied volatility remains broadly unchanged in the low-40% range.
The market is pricing in relatively modest price swings, but with the FOMC and other major economic events approaching, it is worth staying alert.
#BTC
#Bitcoin
The nearest overhead options wall is at $85,000.
There also appears to be a wall at $82,000, although it is smaller than the one at $85,000.
Hedging demand is concentrated around $80,000–$82,000, which may draw the price toward this range.
The downside options wall is at $79,000.
Another key downside level is $78,000, although support there is weaker than at $79,000.
A key turning point for market makers is around $80,000. While the price remains above this level, volatility is more likely to be suppressed, making technical support and resistance levels more likely to hold.
Implied volatility remains broadly unchanged in the low-40% range.
The market is pricing in relatively modest price swings, but with the FOMC and other major economic events approaching, it is worth staying alert.
#BTC
#Bitcoin
