BTC Sandwiched in support and resitance - sell options

Sideways View on BTCUSDT

Trade:


Sell 43000 Call option of 24 January expiry @ $90
Sell 39000 Put option of 24 January expiry @ $90

Stop Loss: Premium  = $180 in each leg

Target: Premium = $0 in both legs

Max Profit: 1180/BTC

Rationale:

After a remarkable uptrend in BTC, we witnessed a pullback from the 45000 levels, resulting in a decline in BTC’s value to 41000. We have a support areas / demand zone at 40000 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.
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