"The bitcoin options market is on track to record a modest monthly options expiry in the wake of the recent price crash – mainly because the cryptocurrency’s price is so much lower. But there’s still speculation some traders might try to use the moment to push prices as high as $50,000 to increase their payoff or minimize any payouts." Today is the final turning point day set out in our monthly bitcoin cycles strategy. As is set out above there is some speculation of a powerful turn up. Bitcoin is oversold on all momentum oscillators so a turning point may be imminent. Two potential outcomes: A successful test of support of last weekend's low @ $30,000 (which may be happening right now), or an unsuccessful test of $30,000 which would portend a drop into the mid-$20K next week. Because there is nothing new to assess in the major stock market averages this Weekend's Update will address which of the two outcomes manifests, assuming bitcoin does something besides tread water over the next few days. Accordingly, the Weekend Update could be sent out at anytime during the weekend. This service is now 24/7, including holidays...no additional charge.
