Greeks.Live: Most traders are focusing on whether $82,000 can support Bitcoin on the weekly chart
Adam, a macro analyst at Greeks.Live, posted a brief in the English community on the X platform stating that after Bitcoin's short-term plunge from $85,000-$96,000 to $78,000 causing significant losses, group members generally hold a bearish attitude. Most traders are focusing on whether the $82,000 mark on the weekly chart can provide support; many believe there is potential for further decline to the $72,000 area.
The recent price trend has been described as "crazy" and "violent", with traders losing most of their portfolios and some even experiencing 70% losses. Many traders are considering rolling over positions and selling some call options in hopes of recovery while maintaining slightly positive delta exposure to cope with possible upward trends. The general consensus believes that consolidation and base building in the coming week would be a positive signal; if momentum recovers, some anticipate a mean reversion back into the range of $86-89 thousand dollars.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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