đŁ Technical analysis #bitcoin September 28, 2023
đ 4H Frame:
At 15:00 Vietnam September 27, the market had a strong buying force pushing up from 26k2 to try to break the diagonal resistance of the black line and test the resistance area 26k7 - 26k8 (black square frame) but immediately the selling force was over. Responding with a long red candle immediately after that brought Bitcoin price back to 26k2 and moving around that area until now.
â It seems that buyers and sellers are still competing in this price area. The buyer is trying to maintain the Bitcoin price above 25k, while the seller is still trying to push the price below 27k when the $3.1 billion USD BTC Option contract will expire on Friday at 13:00 Vietnam, equivalent to 117 thousand BTC above. Deribit, the Max Pain price of $BTC is $26,500. According to personal opinion, this tug-of-war trend will continue until the end of the week.
âĄïžThe above are just personal shares, not investment advice, wish everyone a good day!
