Bitcoin is currently caught within another bout of sideways trading as its price hovers within the upper-$11,000 region.
One occurrence within the options market shows that the cryptocurrency's mid-term outlook remains incredibly bright despite its inability to break $12,000.
If Bitcoin can push higher and eventually surmount $14,000, it's open skies until it reaches its all-time highs of $20,000.
Options market places an 11% chance on Bitcoin reaching $20k by December of 2020.
Bitcoin has been climbing higher ever since its price bottomed out at $3,800 in mid-March.
After rallying as high as $10,500 in May, it entered into a multi-month consolidation phase that would ultimately result in a breakout rally that led it up to its recent highs of $12,100 that were set yesterday evening.
The options market still thinks the benchmark cryptocurrency will end the year below its all-time highs of $20,000.
Here's the key level BTC needs to break to push significantly higher.
While looking towards Bitcoin's options market's open interest by strike price, there is a significant gap between $14,000 and $20,000.
"BTC air above $14k up to $20k.".
Bitcoin options market shows it is "open air" for BTC after $14,000
Publié le Aug 11, 2020
by Cryptoslate | Publié le Coinage
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