BEARISH PLAY IN BTC - HEDGE WITH OPTIONSBearish View on BTCUSDT
Trade:
Buy 40000 Put option of 20 January expiry @ $150
Sell (2x) 39400 Put option of 20 January expiry @ $75 each
Stop Loss: Spot level = $42500
Target: Spot level of $39400
Max Profit: $600/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 42500 to invalidate the aforementioned setup.