Bitcoin option expiration week. Last one bitcoin was 46k

buwaytress

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Quote from: cryptomaniac_xxx on March 23, 2021, 08:26:54 AM

Right, I'm expecting a slow rise after the 26th, last time we have 4 billion worth of bitcoin expired, this time the numbers grow to 6 billion. But I doubt that we can go lower that $50k in the next several days. I'm interested more on how we are going to bounce back again, for sure new all time high this coming April, nothing to do but wait and continue to HODL.

So a 50% added strength on that "gap filling" to be expected then? Heh, if only things were that easily linear eh?

Coindesk's resident Bitcoin TA guy has been fudding for a week or so, and he was taken aback by the recent 60k limits, but he's piling on more "fatigue" analyses right now, I suppose if we don't see April ATH more analysts will join his ranks. It was when he mentioned "correction" a few days ago that I felt good about where direction's headed.

Much snooze today though.

el kaka22

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Why? Why not call it a correction even if it is 30% drop? Correction is not just an amount of drop, correction is just a term for price going too high for some people and those people getting out and then new people come in or old people who were already invested keep investing some more and increasing the price. So, if the price (inside one month) drop from these prices to 40k and then goes back up, it is still correction. What is not a correction is the fact that price go down and then stay down or keep going down, that would be a crash.

This is why we should know the terms very well, I think 40k could be a crash or it could be a correction, I think 30k could be crash or it could be correction, it all depends on what happens in the next month after that drop and depending on recovery or not we could call it a correction if it manages to go back to 60k levels again.

pixie85

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I'd say the market is too bullish after the new all time high for us to really crash to the bull market support somewhere in the 36-38 thousand.

Usually if the high is overextended it crashes immediately at least 30% within days. Now the reaction to the new high was rather like a consolidation up down pattern.
This looks very much like a typical bull market corrections where traders dump some of their profits but the rest, people who have money on their wallets, sit and wait.

cryptomaniac_xxx

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Quote from: buwaytress on March 23, 2021, 06:26:55 AM

Quote from: pooya87 on March 22, 2021, 11:53:30 PM

Anything lower than this will no longer be considered a "correction" because we have already had the "correction" when price came down from almost $62k down to $53k (roughly 15% correction). It could grow bigger in first place but the rise itself was not big enough for the correction of it to be any bigger than this.
That means any more drop is more like a crash and crashes don't just happen for no reason with little sell offs. We need a much bigger dumping force than some options expiring for the price to go that low.

Would have to agree here. We don't get to say correction again if it happens and will have to face up to whatever reality will be behind that if it happens. Should certainly be very interesting if it does happen in the face of all this stimulus money and option expiries. I've been giving more credence to the price rush to fill in the gap between options and current price though, so we should be seeing at least some respite, if not renewed climbs after 26th.

Right, I'm expecting a slow rise after the 26th, last time we have 4 billion worth of bitcoin expired, this time the numbers grow to 6 billion. But I doubt that we can go lower that $50k in the next several days. I'm interested more on how we are going to bounce back again, for sure new all time high this coming April, nothing to do but wait and continue to HODL.

buwaytress

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Quote from: pooya87 on March 22, 2021, 11:53:30 PM

Anything lower than this will no longer be considered a "correction" because we have already had the "correction" when price came down from almost $62k down to $53k (roughly 15% correction). It could grow bigger in first place but the rise itself was not big enough for the correction of it to be any bigger than this.
That means any more drop is more like a crash and crashes don't just happen for no reason with little sell offs. We need a much bigger dumping force than some options expiring for the price to go that low.

Would have to agree here. We don't get to say correction again if it happens and will have to face up to whatever reality will be behind that if it happens. Should certainly be very interesting if it does happen in the face of all this stimulus money and option expiries. I've been giving more credence to the price rush to fill in the gap between options and current price though, so we should be seeing at least some respite, if not renewed climbs after 26th.

pooya87

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Anything lower than this will no longer be considered a "correction" because we have already had the "correction" when price came down from almost $62k down to $53k (roughly 15% correction). It could grow bigger in first place but the rise itself was not big enough for the correction of it to be any bigger than this.
That means any more drop is more like a crash and crashes don't just happen for no reason with little sell offs. We need a much bigger dumping force than some options expiring for the price to go that low.

adaseb

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Quote from: BitcoinivaX on March 22, 2021, 02:48:53 PM

$6 billion worth of bitcoin options will be expired on March 26. the same happen last month and it was a breather before we blow past 60K.
price may have correction before friday don’t panic sell.

last time price down to 43k and up to 48k

The max pain is around $44K however I think we are way too far away from that price to even reach it so it might not have much of an effect this time. If the max pain was more like $52K then I would assume we would trade in that range before the options expire however we are way too far out of money at the moment.

Either way, there are lots of put options in those lower prices and if there is a long squeeze we might get a gamma squeeze as a result. The market makers will need to hedge by opening shorts in case those far OTM puts become ITM.

Basically same thing happened with that $36K option back in late last year. Nobody knew it would go close to $36K and as price kept going closer and closer the market makers had to hedge by buying bitcoin.

BitcoinivaX

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$6 billion worth of bitcoin options will be expired on March 26. the same happen last month and it was a breather before we blow past 60K.
price may have correction before friday don’t panic sell.

last time price down to 43k and up to 48k

Topic: Bitcoin option expiration week. Last one bitcoin was 46k (Read 126 times)