The market is still bullish! 20240222

CN
1 year ago

According to Deribit's data, the call options for Bitcoin expiring at the end of June are concentrated above the $60,000 execution price, indicating that a significant portion of market participants have a special interest or expectation that the price of Bitcoin will rise above this level. Luuk Strijers, Chief Business Officer of Deribit, stated that the call options above $60,000 are relatively overbought in anticipation of the Bitcoin halving, saying, "After the March expiration, there was a significant change in the imbalance between put and call options, indicating that call options are relatively overbought after the halving, implying a bullish expectation."

Market Analysis:

BTC: On the 4-hour chart, the price continues to oscillate below the lower Bollinger Band, with the market still mainly oscillating for direction.

On the daily chart, the price is attempting to hold above the moving average support.

In summary, the support level is at 51500, and the resistance level is at 51800.

ETH: On the 4-hour chart, the price remains above the middle Bollinger Band, showing continued strength, with support at 2970 and resistance at 3000.

LTC: On the 4-hour chart, the price continues to oscillate below the middle Bollinger Band, showing a general trend of stabilization, with support at 68 and resistance at 71.

BCH: The price continues to oscillate below the middle Bollinger Band, with support at 250 and resistance at 280.

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