Sideways View on BTCUSDT
Trade:
Sell 43000 Call option of 24 January expiry @ $90
Sell 39000 Put option of 24 January expiry @ $90
Stop Loss: Premium = $180 in each leg
Target: Premium = $0 in both legs
Max Profit: $180/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 45000 levels, resulting in a decline in BTC’s value to 41000. We have a support areas / demand zone at 40000 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 43000 Call option of 24 January expiry @ $90
Sell 39000 Put option of 24 January expiry @ $90
Stop Loss: Premium = $180 in each leg
Target: Premium = $0 in both legs
Max Profit: $180/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 45000 levels, resulting in a decline in BTC’s value to 41000. We have a support areas / demand zone at 40000 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.
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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.
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.