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.
Chart PatternsTechnical IndicatorsTrend Analysis

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