OptionTrading
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Bitcoin's resurgence, driven by recent positive developments such as Fed Chairman Jerome Powell's remarks and strong US employment data, has reignited optimism among option traders, with expectations of hitting $75,000 and $100,000 thresholds. QCP Capital analysts noted the uptick in volatility and rates post-recovery, emphasizing a positive BTC risk reversal favoring calls over puts. This sentiment bolstered traders' outlook for higher price targets in September.
John Glover, Chief Investment Officer at Ledn, shared a bullish stance, predicting a potential surge to $92,000 for Bitcoin. Leveraging the Elliott Wave theory, Glover suggested a probable correction to $52,000-$55,000 before embarking on the upward trajectory towards $92,000. Despite recent fluctuations, Glover remains confident in Bitcoin's price action aligning with his anticipated Wave 4 pattern, with the ultimate projection pointing to the $92,000 mark.
#Bitcoin #BTC #Cryptocurrency #MarketAnalysis #ElliottWaveTheory #PricePrediction #OptionTrading
John Glover, Chief Investment Officer at Ledn, shared a bullish stance, predicting a potential surge to $92,000 for Bitcoin. Leveraging the Elliott Wave theory, Glover suggested a probable correction to $52,000-$55,000 before embarking on the upward trajectory towards $92,000. Despite recent fluctuations, Glover remains confident in Bitcoin's price action aligning with his anticipated Wave 4 pattern, with the ultimate projection pointing to the $92,000 mark.
#Bitcoin #BTC #Cryptocurrency #MarketAnalysis #ElliottWaveTheory #PricePrediction #OptionTrading
