BTC SIDEWAYS VIEW- SELLINGS OPTIONS
Updated
Sideways View on BTCUSDT
Trade:
Sell 45000 Put option of 9 January expiry @ $230
Sell 42000 Put option of 9 January expiry @ $270
Stop Loss:
Premium in 45000 Call = $460
Premium in 42000 Put = $540
Target: Premium = $0 in both legs
Max Profit: 5500/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 45900 levels, resulting in a decline in BTC’s value to 42700. We have a support areas / demand zone at 42000 levels on 4 HR time frame.
Consequently, the price is now caught between newly established support and resistance areas in the recent price movements, rendering BTC sideways in the short term.
Trade:
Sell 45000 Put option of 9 January expiry @ $230
Sell 42000 Put option of 9 January expiry @ $270
Stop Loss:
Premium in 45000 Call = $460
Premium in 42000 Put = $540
Target: Premium = $0 in both legs
Max Profit: 5500/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 45900 levels, resulting in a decline in BTC’s value to 42700. We have a support areas / demand zone at 42000 levels on 4 HR time frame.
Consequently, the price is now caught between newly established support and resistance areas in the recent price movements, rendering BTC sideways in the short term.
Note
*45000 Call* // Typo error
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