📊Analyst says key bitcoin level to watch is “decision band” in $67,000 range
Is bitcoin in the “hope and fear” stage or is there still farther for the price to fall?
🪙Bitcoin remains stuck in the $67,000 range, with no clear direction or catalysts, down 46% from its October 6 all-time high.
🪙Opinions differ as to whether the asset has already bottomed out or is still on its way down.
🪙For instance, Nic Puckrin, cofounder of Coin Bureau, posted that “bitcoinBTC $66,754.30 (-0.04%) is in the ‘Hope & Fear’ stage — which means it’s still not a low.”
🪙Aurelie Barthere, principal research analyst at Nansen, told Sherwood News that the dominant call strike is $75,000, suggesting traders favor positioning outside the $60,000 to $70,000 range, potentially waiting for BTC to break the $70,000 resistance.
🪙$BTC
“Option traders appear cautious and expect some downside asymmetry for BTC. However, they are less bearish than they were 10 days ago and would likely be long BTC if it breaks above the $70K resistance,” she said.