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Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom

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Bitcoin (BTC) has been trying to break out of a descending trend for the past week and the first attempt on June 16 failed to break the $22,600 resistance.

The second attempt at $21,400 on June 21 was followed by an 8% price correction. After two failed breakouts, the price currently trades below $20,000 and raises questions on whether $17,600 was really the bottom.The longer it takes for BTC to break from this bearish pattern, the stronger the resistance line becomes and traders are following the trend closely.

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