BTC DOWN - TIME FOR SOME RETRECEMENTS - CALL SPREADS IN PLAY
Bearish 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: 9970/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.
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: 9970/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.
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