Bitcoin Bounce? Caution, $3B Options Expire!

We are having a bounce short-term on the BTCUSD trading pair.

This is good news but I am warning caution.

Tomorrow is Friday and $3 Billion worth of options are expiring.
The options expiry date is normally a bearish event for Bitcoin.

You can have a bounce such as is happening now followed by a bigger drop (red arrow).

If the resistance can be taken out (yellow rectangle/downtrend line), additional growth is possible.

Better to wait and see how the market will react when the options expire... This is only a little 24 hours away.

What's your take on the Bitcoin options expiration date?
Hit LIKE and Leave us a comment.

Namaste.

Komentarz:

Just as we suspected.
A bounce leading to a strong drop.