Call Spread in BTC -55$ SpreadSideways View on BTCUSDT
Trade:
Sell Call Spread – BTC – 38400 – 38600 – 30 November expiry at 55$
Stop Loss: Spread Premium of $110
Target: Spread Premium of $0
Max Profit: $55/BTC
Max Loss : $55/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.
Enhancing the probability of this scenario, there is notable open interest (OI) in the $38,500 call options.