Everything is bullish except the price on Friday as $200 million in options expire and attention focuses on corporate quarterly disclosures. Bitcoin (BTC) ranged around 48,000 on Friday as hopes of a bull run endured thanks to low supply and upcoming corporate disclosures. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to consolidate into Friday, with the latest options expiry now due. The pair had made little progress since bouncing off 47,000 the day before, but bullish expectations among analysts were also firmly intact. As Cointelegraph reported, these revolve around a “supply squeeze” driving prices up — a combination of increased demand while long-term holders already own almost 80% of the supply. “Keep in mind alt supply, and ETF season ahead likely to be key drivers + disclosures,” trader Pentoshi noted as part of comments on the BTC price outlook. 

BULLISH AND BEARISH CONDITIONS/ POSSIBILITIES :

Bitcoin (BTC) is trading sideways, indicating a period of consolidation as buyers and sellers appear to be at a stalemate. Resistance is seen around 50,000, which could limit upside into the weekend.

The cryptocurrency is holding support above the 200-day moving average, currently near 45,800. BTC is up 5% over the past week as upside momentum improves. The discretionary data in terms of fundamentals are supporting the bullish stance on bitcoin and in accordance to price action - there are bullish indications for the crypto to attain new higher highs on the daily time frame. On the other side an expected deeper bearish reversal is expected before going any higher and for that confirmation below 46,000 is required.  

BTCUSD

Sep 18 2021

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