Since the beginning of the year 2021 until the moment, the Bitcoin currency (BTC) has witnessed a growth of 89%.

In the past few days, the bitcoin currency fell to the level of 51 thousand dollars, after hitting a new record at about 65 thousand dollars, after the hype and media momentum related to the listing of “Coinbase” on the Nasdaq Stock Exchange.

Currently, Bitcoin fluctuates between $54,000 and $56,000.

Many trackers are expecting the bitcoin price to break free next Friday, April 23rd on the back of the bitcoin options expiration.

Currently, the bitcoin price is still subject to losses while the bulls are focused on regaining the $60,000 level.

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Bitcoin options expiration can determine price direction:

About 27,320 bitcoin contracts will expire on April 23, with a total value of about $1.5 billion ($56,000 exchange rate).

At the moment, the bears and bulls appear to be in balance mainly due to call options averaging 45% of open interest.

Currently, the open interest is $1.13 billion.

The recent crash from $64,000 wiped out most of the bulls, leaving only 3,000 bitcoin contracts below $58,000.

Shows the four-hour chart taken from Source Bitcoin trading within the bounds of the short-term symmetrical triangle.

This pattern does not have a bearish or bullish bias, which increases the credibility that Bitcoin is waiting for a break in one of the two directions.

A break above the upper trend line of the triangle is likely to send Bitcoin towards $60K.

Read:Former Coinbase CTO: No Cryptocurrency Can Beat Bitcoin

On the downside, if the $56,000 support fails to hold and bitcoin starts to lose ground around $55,000, the declines are likely to increase to $50,000.

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