Greeks.live: Traders Cautiously Bullish on Bitcoin, Eyeing $88K Resistance

Market Prepares for Potential Breakout as Open Interest BuildsAccording to a recent community update from Greeks.live, sentiment in the crypto options market remains cautiously bullish in the short term, with traders closely watching Bitcoin’s resistance at the $87,000–$88,000 range and key support around $85,300.The update notes that many traders believe Bitcoin (BTC) could rise again and potentially peak in May, with positioning now balanced for both bullish and bearish scenarios. While price volatility has remained subdued, open interest in the derivatives market is rising, suggesting that a larger market move may be imminent.Key Insights from Greeks.live:Short-Term Outlook: Cautiously bullish.Resistance: $87,000–$88,000.Support: $85,300.Market Structure: Rising open interest and tightening price action point to possible short-term volatility.