$BTC
BTC's next test: $78,500 and September 25
Bitcoin has stabilized after absorbing the recent rate-hike shock, and traders are now watching two key markers: the $78,500 resistance level and September 25 as potential turning points.
Most traders treat the recent low near $75,000 as the reference bottom for this pullback. Meanwhile, the max-pain level for this quarter's options expiry sits near $72,000 — the price where the largest number of options contracts would expire worthless, often acting as a magnet before expiry.
Tonight also brings triple witching — the simultaneous expiration of stock options, index options, and futures contracts. Historical context worth knowing: since 2012, the S&P 500 has fallen in 12 of 14 similar triple witching sessions, adding a layer of volatility risk across traditional and crypto markets alike tonight.
Levels to watch: $75,000 support, $78,500 resistance, $72,000 max-pain gravity.
$BTC #Bitcoin #TripleWitching
BTC's next test: $78,500 and September 25
Bitcoin has stabilized after absorbing the recent rate-hike shock, and traders are now watching two key markers: the $78,500 resistance level and September 25 as potential turning points.
Most traders treat the recent low near $75,000 as the reference bottom for this pullback. Meanwhile, the max-pain level for this quarter's options expiry sits near $72,000 — the price where the largest number of options contracts would expire worthless, often acting as a magnet before expiry.
Tonight also brings triple witching — the simultaneous expiration of stock options, index options, and futures contracts. Historical context worth knowing: since 2012, the S&P 500 has fallen in 12 of 14 similar triple witching sessions, adding a layer of volatility risk across traditional and crypto markets alike tonight.
Levels to watch: $75,000 support, $78,500 resistance, $72,000 max-pain gravity.
$BTC #Bitcoin #TripleWitching
