BTC : Sandwiched in Demand & Support
Sideways View on BTCUSDT
Trade:
Sell Put- BTC - 38800 - 20 December expiry at 85$
Sell Call -BTC - 43200 - 20 December expiry at 85$
Stop Loss: Combined Premium of $340 of both legs
Target: Premium of $0 in both legs
Max Profit: 1170/BTC
Max Loss : 1170/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 448900 levels, resulting in a decline in BTC's value to 40250. We have a support areas / demand zone at 40225 levels on 4 HR time frame.
Consequently, the price is now caught between newly established support and resistance areas in the recent price movements, rendering BTC sideways in the short term.
Trade:
Sell Put- BTC - 38800 - 20 December expiry at 85$
Sell Call -BTC - 43200 - 20 December expiry at 85$
Stop Loss: Combined Premium of $340 of both legs
Target: Premium of $0 in both legs
Max Profit: 1170/BTC
Max Loss : 1170/BTC
Rationale:
After a remarkable uptrend in BTC, we witnessed a pullback from the 448900 levels, resulting in a decline in BTC's value to 40250. We have a support areas / demand zone at 40225 levels on 4 HR time frame.
Consequently, the price is now caught between newly established support and resistance areas in the recent price movements, rendering BTC sideways in the short term.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.