Will Bitcoin Start a Bullish Movement Again? September 4th BTC Analysis

  • Bitcoin option data shows that large investors are mostly focused on bullish options.
  • In a bearish scenario, significant losses can occur due to the large trading volume in bullish options.
  • The price of Bitcoin has been moving sideways in recent days, but if it remains above the blue support zone, there is still potential for an uptrend.

Bitcoin option data shows that large investors are mostly focused on the upside. However, the price is still moving sideways within a certain range and there is a downside risk below the blue support zone. The price continues to monitor the specified support and resistance levels.

Bitcoin Could Start Rising If It Holds onto Critical Support!

When we examine the price chart of Bitcoin, it can be seen that it has been moving sideways within a certain range for the past 4 days. As long as the BTC price remains above the blue support zone mentioned in the analysis, it may have the potential to continue the uptrend.

However, if the Bitcoin price closes below the blue support zone on a daily basis, it could carry the downward trend to the levels of $23,980 as mentioned in the previous analysis. However, if the BTC price continues to hold onto the blue support, it could initiate the uptrend and target the $27,000 level first, followed by the $28,400 level.

The price movement of Bitcoin seems to continue to monitor these specified support and resistance levels.

Bitcoin Option Positions Weighted towards Upside!

Daily Bitcoin Option Positions Source: Coinglass

When we look at the current option data of Bitcoin, it can be observed that large investors are mostly focused on bullish options. In the last 24 hours, there is a trading volume of 14,332.2 BTC in Call (upside) direction.

The trading volume for Put (downside) options is 6,700.85 BTC. These data indicate that Bitcoin whales are generally inclined towards the upside. However, in the event of a possible downturn, significant losses can occur in bullish options.

These option data remind us that similar ratios of bullish options were present before Bitcoin reached the $28,000 level in previous periods.

BREAKING NEWS

Bitwise Solana ETF BSOL Surpasses $500 Million in Inflows, With $30 Million in a Single Day

According to Bitwise CEO Hunter Horsley's post on X,...

Ethereum Net Supply Increases by 74,298 ETH in 30 Days, 9,770 ETH Burned as Total Supply Hits 121,195,469 ETH

According to Ultrasound.money data, Ethereum's net supply over the...

Bitcoin (BTC) Sees 336 BTC Net CEX Outflow in 24 Hours as Coinbase Pro, Gemini and Bybit Lead Withdrawals

COINOTAG News, citing Coinglass data, reports that in the...

Bitcoin Whale With 100% Win Rate Closes Long, Shorts 90.63 BTC at 40x Leverage (~$9.24M)

COINOTAG News, citing HyperInsight monitoring on November 8, reports...

Bitcoin Whale Opens 40x Leveraged Long on 20 BTC at $101,800 Entry Price (≈$2.04M)

COINOTAG News, citing HyperInsight on November 8, tracked a...

Blockchain May Foster Network States Amid Eroding Nation-State Model

Network states represent sovereign communities in cyberspace,...

Ripple’s $40B Valuation Signals XRP’s Potential for Long-Term Growth

Ripple's $40 billion valuation highlights XRP's undervaluation amid regulatory...

Filecoin Shows Bullish Breakout Potential with Rising Volume and Whale Accumulation

Filecoin (FIL) exhibits strong bullish breakout potential...

Italy’s Banks Support Digital Euro for Sovereignty, Seek Flexible Cost Approach

The Italian banking sector strongly supports the European Central...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img