$BTC Tomorrow is the options expiration, let's talk some hard truths, 14.1 billion USD options are expiring, accounting for nearly 40% of the total positions. The maximum pain point is 75,000, now at 71,000.
What does this mean? Market makers want to pull the price towards the pain point to minimize their losses.
But to pull it up costs money. ETFs were flowing out yesterday, and large investors are offloading. Who's going to pay to pull it up?
Past experience: Before expiration, prices are pulled up to entice more buyers, and after expiration, there are sharp drops to harvest profits.
The most common mistake retail investors make: chasing the pain point and then getting slapped from both sides.
Advice: Those with heavy positions should take profits in batches, and those wanting to buy the dip should wait until after the expiration. Surviving is key for future opportunities.