$BTC

Dear followers, the next 1-12 hours is going to be very important for your finances in the next 6-12 months.

There's going to be extremely volatility in the market within this time frame that could put you in a terrible position, especially if you are new to crypto.

Two major factors will be responsible for this volatility, viz;

1. BTC/ETH options expiry about 35 minutes from now (8am UTC)

2. BTC halving event of next month

Both factors will work in conjunction with each other to give some people quick profit and then cause extreme loss for some others.

Here's my personal opinion on how this is going to play out. Please note that this is not financial advice.

1. The options expiry is going to favour longs...as such there'll be a temporary short squeeze that will see BTC stay above $70,000 and make an attempt to break it's previous resistance of $74,000.

2. Simultaneously, there'll be actors waiting to open orders for shorts in the futures and options market at any price above $70k-$74k... The sell pressure is going to be highest at 74k and above.

Even if BTC rises above $74k, the whales and the market markers in the options and futures market will short the market with all they have because the BTC halving is few weeks away and prices are definitely going to drop around the halving period.

So essentially we will see a brief spike in prices and then a sharp fall to a long term support area which is currently $48,000 for BTC.

If you are trading ALTs then please be careful because the impact of this volatility on ALTs will be worse/higher depending on how you're trading.

Now's the time for you to start taking profit if your coin is at or still making ATH.

I pray you all succeed in your trading and none of you get to experience the pain and suffering I went through as a beginner in 2021 seeing Luna Serum and some other cryptos turn my portfolio to ashes.