We're near a Bitcoin 60 day cycle low, ETH ETF sentiment has not been priced in.
I rather bet we hold bitcoin's consolidation range than break down from here.
Jul 19 215C
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Unfortunately had to cut this position at breakeven, very weak rally for BTC. To avoid theta decay will wait until there is a clear picture on direction
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Good to own shares here though. Expecting it to continue to trace out the triangle range.
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ETH ETF incoming in the next week and a half. Rally or shake out? - due to the ETHE trust unraveling? I think where we stand in bitcoin's 60 day cycle we likely rally on the news unlike with with BTC's trusts.
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Breaking this range to the upside is contingent on BTC breaking into price discovery, or a large rotation to ETH with the ETF. Looking to get long again very soon depending on BTC price action
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Looks like we broke the range and are retesting the upper support line 👀