Bitcoin is trading recently in clearly visible Trading Range, keeping investors nervous and asking question – is it Distribution or Accumulation? From we see in general Positive/ sentiment from Options Traders, but it’s not fully confirmed by the market yet. Going into more detailed M30, we see recent signals of incoming demand to the market identified by VSA Scanner in form of Selling Climax and Climactic Shakeout. Also Area (blue on the chart identified also by Scanner) is retested from the top (top edge on 45945) what adds fuel for Bulls.
From BTC . Currently on Options flow we see that level 50000 is strong Put Wall. Billions of dollars are loaded into Options with Strike Price above 50k. Around area of 50k also we have present (red ), therefore we can expect run up to that level, then correction most likely to happen. And here will come decisive moment for both camps – Bulls and Bears. We also have present Virgin VPOC on 54890 from beginning of December, what is another confluence factor for Long.we could observe also equal ratio of Put and Call options what happened several times on level 46105. This is currently our major support which needs to be kept if tendence should continue be present on
And what only worries me, is Virgin VPOC from 30th September on 43100, which is the level below the current price (for the moment of writing analysis). Let’s make some popcorn and see what happens next 😉 Here comes handly VSA Scanner script, which will at earliest possibility warn us before potential Supply signals and Bears entering the market.