Bitcoin price dips below $30K but here’s why pro traders are still bullish
Data show pro traders are still bullish even as Bitcoin price dips below $30,000 and Friday’s $4 billion BTC options expiry approaches. In the last 24-hours Bitcoin (BTC) price dropped 10% today to test the $30,000 support. This drop below what traders have described as a ‘key’ support occurred just two days ahead of this month’s futures and options expiry. Despite the record-high $4 billion options expiry being just two days away, both bull and bear sides traded similar sizes today.Unlike futures contracts, options are divided into two segments. Call (buy) options allow the buyer to....
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Key Highlights. Litecoin's price surged higher and even managed to break an important resistance area of $3.50-60. A perfect break can be easily noticed on the hourly chart (data feed from HitBTC), with support now at $3.60. Buying dips may be a good idea in the short term, as the broken resistance area could act as a support moving ahead. Litecoin's price traded higher intraday, and our idea yesterday of buying with a break played well. Now we can look to buy dips in the short term. Buy Dips? Litecoin price is currently trading in an uptrend on the 1-hour chart, as there was a critical....
Options traders look to be preparing for further falls in bitcoin's price in the short-term, according to put-call skew data.