BTC Options Expiry, Green Weekend Ahead

Nov 24, 2021

Options Expiry on Friday - Advantage to Bears to Keep Price Below 60k till then.

- Descending Triangle after a move down usually indicates reversals despite being a bearish pattern.
- Daily RSI has confirmed a bull div within the triangle.

It's likely to be a green weekend for either (a) or (b):

(a) Flips ~61k back to support to new ATH at ~77k.
(b) ~61k rejects for a final retest of 111D MA at 53k.

Invalidated if triangle breaks to the downside.

Nov 26, 2021

Note

16h left till daily close but with that rejection, a 4-point falling wedge is can now be confirmed. Buy closer to the bottom of the triangle for best R/R.

Dec 3, 2021

Trade closed: target reached

See latest idea.