everyone thinks the massive 80k options wall means $BTC is programmed to pump there next, but actually, you're probably walking straight into a bull trap. fomoing into leverage because you saw a huge open interest spike is the fastest way to get your account wiped out before the real move even starts. we've all watched our longs get liquidated just because we misread the order book.

look at the current setup. deribit has over 1.2b in open interest sitting at the 80k strike. while the long-term macd just flipped bullish, that options wall isn't a guaranteed target. depending on how market makers are hedged, it could just as easily suppress volatility and keep us range-bound for weeks, similar to the distribution phase we saw on $ETH earlier this year.

we still need to clear major resistance levels at 65.4k and 67.3k before we even test the key 200-day moving average at 71.1k. momentum is definitely improving, but the trend reversal isn't locked in yet. if you're positioning for an immediate breakout based on that 80k wall, you're ignoring the actual market structure.

are you guys bidding the spot market here or waiting for a clean break of the 200-day ma?

#bitcoin #cryptotrading #macro