Bitcoin / TetherLong
Bitcoin : Profiting with the BTC CALL Plunge Strategy
Bullish View on BTCUSDT
Trade:
Buy 385000 Call option of 1 December expiry @ $90
Sell (2x) 395000 Call option of 1 December expiry @ $35 each
Stop Loss: Spot level = $37000
Target: Spot level of $395000
Max Profit: 9980/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 38000 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 December 1. This uptick in OI for such options further bolsters our confidence in the current market conditions.
Trade:
Buy 385000 Call option of 1 December expiry @ $90
Sell (2x) 395000 Call option of 1 December expiry @ $35 each
Stop Loss: Spot level = $37000
Target: Spot level of $395000
Max Profit: 9980/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 38000 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 December 1. This uptick in OI for such options further bolsters our confidence in the current market conditions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.