Here’s how Bitcoin pro traders plan to profit from BTC’s eventual pop above $20K
(BTC) entered an ascending channel in mid-September and has continued to trade sideways activity near $19,500. Due to the bullish nature of the technical formation and a drop in the sell pressure from troubled miners, analysts expect a price increase over the next couple of months.
Bitcoin/USD price at FTX. Source: TradingView
Independent analyst @el_crypto_prof noted that BTC’s price formed a “1-2-3 Reversal-Pattern” on a daily time frame, hinting that $20,000 could flip to support soon.
Bitcoin options Iron condor skewed strategy returns. Source: Deribit Position Builder