In previous posts, we said that from the next quarter, which has already arrived, we can expect the growth of the crypto market to begin.
The quarterly options have expired and now it is time to open positions for the new quarter.
As a rule, this takes 1-3 weeks of the new quarter.

But already now in the options market there is a massive purchase of Call options (bet on growth) in huge volumes with a rate at the end of the 3rd quarter.

Moreover, the largest volume falls on the $90,000 mark!
The most interesting thing is that Put options (a bet on a fall) have virtually no volume.

Obviously, large capital is planning growth by the end of this quarter, and this is not surprising, because they are actively buying back everything, especially during the current decline.
If in doubt, just look at the whales' wallets and see that their balances are only growing (yes, thanks to the blockchain, all this information is very easy to verify. Just enter this search term in a search engine) 🔍

In the last post, we talked about this scheme, where the market collapses - the entire drawdown is bought out - option positions are opened at a cheap price.
In the next 2-3 weeks, a set of option positions may still take BTC and the rest of the market lower, but the likelihood of such a scenario decreases every day, so the last thing you should do is short.

If you look at the quarterly dynamics of Bitcoin over its entire existence (search in a search engine), you will notice that during a bull cycle, Bitcoin usually grows in the 3rd quarter.

The only exception is the current bull market and its 3rd quarter of 2023.

🕯 Technical analysis

Starting this week, Bitcoin closed the monthly and quarterly candle:
1️⃣ Monthly timeframe

For the 4th month in a row, the price has been trading within the sideways range of the bullish flag pattern that we have previously voiced many times.
Moreover, the closing of the month could not cover the previous monthly candle.

Below we have important support in the form of the lower border of the current sideways, long-term moving MA200d, level 59500 and the lower border of the ascending channel of the current bullish trend.

At the same time, the price closed the month under the important moving MA20w and during this month it is important to return above it so that the growth scenario in this quarter is valid.
Otherwise, we have the risk of reaching the very last support, which is in the area of ​​$52,000-55,000.
In any case, we do not expect lower prices in the worst-case scenario.

2️⃣ Quarterly timeframe

Here the picture is more favorable.
The price of the last quarter could not even cover the previous quarterly candle by half. And at the end of the quarter, Bitcoin lost only -11% of its value.

The current situation on quarterly candles repeats the situation in 2016. And according to the cycles, the current chatter should end just the other day.

📊 Result:
Now the next 2-3 weeks will be decisive for the cryptocurrency market. If growth does not resume by the middle to end of this month, then we can state the fact that the current quarter will take place within the current flat pattern with continued marinating of investors.
Do not forget that the price before the start of growth may go to $52,000-55,000 $BTC

Personally, we are betting on a rebound in growth this quarter.
Time will tell how it will actually turn out.

🤟 Did you like the review or want to better understand cryptocurrencies and technical analysis?

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