News India Live, Digital Desk: Crypto Crash Alert: On the 30 -minute chart of the tradingview, bitcoin has reached a lower level, causing a recession situation. The major technical indicators RSI (Relative Strength Index) currently is at 36.46, close to the oversold region, but still does not indicate a clear reversal. In addition, the PSP Gap Histogram has recently produced the “DM” ie down move signal, which reflects the possibility of further further decline.
According to the option series ending on May 16, 2025 on Deeribit, heavy call writing is being seen in the market on strike values of \ $ 105,000 and \ $ 110,000. At the same time, put writing is seen between \ $ 100,000 and \ $ 95,000.
The strike price is 110,000. While the call side is 17.6k. While the put side is 8.4k. Then the strike price is 105,000. While the purchase side is 20 k and the put side is 6K. In addition, there is a strike price of 100,000. Apart from this, 17.6k is also 17.6K. The strike price of this side is 95,000. This is 16.9 k. Additionally, there is also a put side of 1.4 K.
Immediate resistance $ 103,500 and $ 104,500 – Sale is possible from here. Talking about strong support, $ 101,500 and $ 100,000, a boom can be expected from here. The panic zone support is $ 98,000 and $ 95,000 – this is the last major support.
At this time, bitcoin moves are pointing to recession. Both technical and alternative data show that BTC is about to close above $ 103,500. The landscape of short -term recession remains intact. If it breaks below $ 101,500, it can fall \ $ 100,000 and then to \ $ 95,000.
Traders are advised to wait for RSI boom at signs and support levels of volume diversion. Also, a breakout above $ 103,500 can be considered as the first sign of the return. (Note: The information given here is only for informative purposes, it is important to mention here that investing in the market is subject to market risks.
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