Options Market is Losing Confidence in Bitcoin,This Could Spell Trouble for 2020

[BeManga]

Bitcoin (BTC) has been able to incur some tempered bullishness today after a multi-day period of hovering around its support at $7,200. Today’s slight gains have come about in the face of a strong down trend, however, which could mean that these gains will ultimately prove to be fleeting and followed by further downside.

One factor that analysts are pointing to as support for the idea that the macro-bear trend is still far from being over is the fact that the options market is losing faith in BTC, which – in combination with other factors – could spell trouble for the crypto in the coming months.

there is a large resistance below $7200 and if there is someone willing to sell a large amount of bitcoin it can really go down
but many users will be happy if someone does that because they can get cheap bitcoin
if you will look in the bitcoin price chart you can see that large resistance below $7000 start in May 2019
maybe it's the one-year preparation for the incoming halving this May 2020

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[kotik085]

Actually this drops in december 2019 can really continue because of the users,traders and investors that feel fear to do risk or invest here then base in my 2 to 3 years here i see already that if market drops when the price of btc is high then this will continue but still market here is unpredictable like if many good news happen then market will grow in that time

Bitcoin is in a lull today, and the price of Bitcoin does not move from a dead position and has an impact, a bearish mood. As for the long-term prospects, then bitcoin will overcome the mark of $ 7,800 and then the bullish mood.

[ChrisPop]

I wouldn't base my decisions based on the options market behaviour. The BTC options market is still low compared to the spot and the monthly chart is looking good for a reversal candle print at the end of the year. Three more days until we pass on to 2020. If the price remains above $7000 we're going to print a hammer candlestick type. Although we don't have much volume, closing above $7000 would confirm a rejection of the 21 EMA on the monthly timeframe which is at least NOT bearish for me. From my point of view in the first months of 2020 we're going to go sideways between $7000-$10000.