BTC Bearish - Call spreads play
Bearish View on BTCUSDT
Trade:
Buy 38000 Put option of 26 January expiry @ $150
Sell 37500 Put option of 26 January expiry @ $100
Stop Loss: Spot level = $40500
Target: Spot level of $37500
Max Profit: 4450/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 40500 to invalidate the aforementioned setup.
Trade:
Buy 38000 Put option of 26 January expiry @ $150
Sell 37500 Put option of 26 January expiry @ $100
Stop Loss: Spot level = $40500
Target: Spot level of $37500
Max Profit: 4450/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 40500 to invalidate the aforementioned setup.
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