Bitcoin Jumps on CME Options Launch


Bitcoin rose by about $500 to once more retake $8,500 as the currency seemingly turns upwards. That coincides with the launch of bitcoin options on Wall Street’s CME this Monday. Zoom in is the new zoom out, but the weekly candles chart looks a bit interesting as there’s quite a few things going on there. We obviously first have that $3,000 long sideways a year ago, with the more recent long sideways then in the past few weeks when circa $6,500 held. That was followed by what some claim is a breakout in an upwards direction, with $8,500 potentially being some resistance and then $10,000. You can never predict these things but instead of a fast movement it might be slow, slow time as bulls walk on their tip toes to not wake up the bears. Options are one tool that makes that tip toes walking very, very quiet, but…

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