BTC Price down over 11% vs EUR - Expect rebound at month end
BTC price has dropped sharply in the past 24hrs and is down over 11% against the EUR.
Price has bounced off resistance at €25600 and shows strong support.
1. Options contracts worth around 101,000 Bitcoin expire on January 29. There are more bullish open interest (calls) in the options market than bearish ( puts).
2. World's leading asset manager BlackRock may soon add exposure to #Bitcoin futures which is a bullish sign.
Expect the price to rally again at month-end and break though trend line.
LONG
Price has bounced off resistance at €25600 and shows strong support.
1. Options contracts worth around 101,000 Bitcoin expire on January 29. There are more bullish open interest (calls) in the options market than bearish ( puts).
2. World's leading asset manager BlackRock may soon add exposure to #Bitcoin futures which is a bullish sign.
Expect the price to rally again at month-end and break though trend line.
LONG