PUT Spread in BTC -55$ Spread
SidewaysView on BTCUSDT
Trade:
Sell Put Spread – BTC – 37200 – 36600 – 1 December expiry at 55$
Stop Loss: Spread Premium of $110
Target: Spread Premium of $0
Max Profit: 555/BTC
Max Loss : 555/BTC
Rationale:
Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600, and price is back at resistance level again.
Trade:
Sell Put Spread – BTC – 37200 – 36600 – 1 December expiry at 55$
Stop Loss: Spread Premium of $110
Target: Spread Premium of $0
Max Profit: 555/BTC
Max Loss : 555/BTC
Rationale:
Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600, and price is back at resistance level again.
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