Sideways to Bullish BTC- Put Spreads a better choice!
Bullish View on BTCUSDT
Trade:
Sell 40000 Put option of 2 February expiry @ $130
Buy 39500 Put option of 2 February expiry @ $80
Stop Loss: Spot level = $40000
Target: Premium = $0 in both legs
Max Profit: $50/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the downward momentum, with noticeable retracements in play. Moreover, a recently established support zone/demand zone has been pinpointed on the charts.
For risk management, we recommend setting a stop loss at 40000 to invalidate the aforementioned setup.
Trade:
Sell 40000 Put option of 2 February expiry @ $130
Buy 39500 Put option of 2 February expiry @ $80
Stop Loss: Spot level = $40000
Target: Premium = $0 in both legs
Max Profit: $50/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the downward momentum, with noticeable retracements in play. Moreover, a recently established support zone/demand zone has been pinpointed on the charts.
For risk management, we recommend setting a stop loss at 40000 to invalidate the aforementioned setup.