Analysis Company Shares Deep Technical Analysis: Where is the Resistance and Bottom in Bitcoin? What Are Options Traders Doing?

Cryptocurrency analytics firm Greeks.Live reported that market sentiment is predominantly bearish, with traders expecting further declines.

According to the analyst firm, many are closely watching the $87,000-$89,000 range as a key resistance level, while $82,000 is seen as a short-term bottom. However, there are differences of opinion on whether a sustainable base is forming.

Greeks.Live highlighted the following in its latest market update:

• Wild price swings – “The market experienced extreme price swings, with Bitcoin moving $6,000 in a single day, creating a pattern traders are describing as ‘double-sided stimulus.’”
• Shifts in options trading – “Many traders are selling call options in the $89,000 to $90,000 range as their preferred strategy in the current environment.”
• Persistent bearish sentiment – “A sell bias remains evident, suggesting that despite the brief upward movement, market sentiment is still bearish.”
• Liquidity-driven moves – Some traders believe the market is in a “liquidity game” phase, indicating a need for quick entries and exits.

Geopolitical events have also contributed to market uncertainty, with Trump’s tariff announcement and subsequent policy reversals fueling unpredictable price action, leading many investors to adopt a wait-and-see approach, Greeks.Live noted.

*This is not investment advice.