BTC- Sideways to bullish- selling puts

Sideways View on BTCUSDT

Trade:


Sell  41000 PUT option of 7 February expiry @ $60

Stop Loss: Premium = $120

Target: Premium = $0

Max Profit: 660/BTC

Rationale:

The most recent movement in BTC suggests a potential temporary halt in the momentum, with noticeable retracements in play. Moreover, a recently established support has been pinpointed on the charts.

Adding to our odds, high OI is also observed for 41k puts of 7 Feb expiry.
Chart PatternsTechnical IndicatorsTrend Analysis

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