Bitcoin / TetherLong
Bitcoin Bullish Buzz - BULL CALL Spread
Updated
Bullish View on BTCUSDT
Trade:
Buy 38500 Call option of 17 November expiry @ $210
Sell 39500 Call option of 17 November expiry @ $105
Stop Loss: Spot level = $35800
Target: Spot level of $39500
Max Profit: 11000/BTC
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 36800 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it's evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we've observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on November 17. This uptick in OI for such options further bolsters our confidence in the current market conditions.
Trade:
Buy 38500 Call option of 17 November expiry @ $210
Sell 39500 Call option of 17 November expiry @ $105
Stop Loss: Spot level = $35800
Target: Spot level of $39500
Max Profit: 11000/BTC
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 36800 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it's evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we've observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on November 17. This uptick in OI for such options further bolsters our confidence in the current market conditions.
Trade active
Small typo error- please read the second leg as-Sell (2x) 39500 Call option of 17 November expiry @ $105 each
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