The max pain price for Friday's bitcoin options expiry is $44,000.
Cryptos gain alongside stocks.
Support above the $42K-$45K breakout should hold.
“The fear is gone for now, and the market is optimistic,” Arcane Research wrote in a Tuesday newsletter. But not enough to keep bitcoin's price above $50K.
The rally may not be sustainable, according to Arcane Research.
Initial support around $48K could stabilize the pullback.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
Upside momentum is strengthening on daily and weekly charts, which suggests buyers are in control.
Bitcoin rallied after Coinbase announced it will add crypto to its balance sheet.
Buyers will likely remain active on pullbacks into the weekend.
Analysts expect bitcoin to remain above its 200-day moving average.
Support at $42K-$44K could stabilize the pullback.
Bitcoin and other cryptocurrencies are consolidating near recent highs.
The cryptocurrency is down 3% in the last 24 hours.
BTC is trading around the 200-day moving average and will need to break out of a short-term range to resume the uptrend.