BTC DOWN - TIME FOR SOME RETRECEMENTS - CALL SPREADS IN PLAYBearish View on BTCUSDT
Trade:
Buy 41400 Call option of 25 January expiry @ $150
Sell (2x) 42400 Call option of 25 January expiry @ $60 each
Stop Loss: Spot level = $39000
Target: Spot level of $42400
Max Profit: $970/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 39000 to invalidate the aforementioned setup.