Bitcoin / TetherLong
BTC BUllish - Call spreads play
Bullish View on BTCUSDT
Trade:
Buy 43800 Call option of 7 February expiry @ $80
Sell (2x) 44400 Call option of 7 February expiry @ $30 each
Stop Loss: Spot level = $41700
Target: Spot level of $44400
Max Profit: 5580/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.
For risk management, we recommend setting a stop loss at 41700 to invalidate the aforementioned setup.
Trade:
Buy 43800 Call option of 7 February expiry @ $80
Sell (2x) 44400 Call option of 7 February expiry @ $30 each
Stop Loss: Spot level = $41700
Target: Spot level of $44400
Max Profit: 5580/BTC
Rationale:
The most recent movement in BTC suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.
For risk management, we recommend setting a stop loss at 41700 to invalidate the aforementioned setup.
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