Bitcoin : Profiting with the BTC CALL Plunge StrategyBullish View on BTCUSDT
Trade:
Buy 42000 Call option of 5 December expiry @ $150
Sell (2x) 428000 Call option of 5 December expiry @ $75 each
Stop Loss: Spot level = $39000
Target: Spot level of $42800
Payoff at Expiry:
Max Profit: $800/BTC
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 40000 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we’ve observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on December 5. This uptick in OI for such options further bolsters our confidence in the current market conditions.