$CRV first thanks to @crediblecrypto for bringing this to my attention. - there are two possibilities for a long setup that I will be looking at since they are valid. - read the notes in chart .-
With developing PA, now confident enough to say I think the lower region from my original chart is out of play.
The SEC backing off $ETH is likely the nail in the coffin for bears here.
I think our green region here holds and $ETH looks good for new ATH.
Sure so cost of a single call option for the expiry and strike above is around $2200-2500. For this example we will take $2500 to make it simple. You buy 100k worth of contracts which means you bought 40 BTC worth (100k/2500) of calls for $2500 each. Strike is 80k, cost was $2500, so breakeven is 82.5k. For every $1000 above that the calls are worth $40,000 at expiry (40x$1,000). So at 92.5k you’d be up 400k and at 102,5k you’d be up 800k. If BTC were to hit 107.5k at expiry you’d be up a million.
Honestly you just want to hold longs above 60k to 90-100k+. No point in taking profit on the way up to buy back lower because odds are this next 20-30k move is going to be very aggressive and pullbacks will likely be more sideways than anything.
Just hold on to your positions and let the market do the work for you.
Ride the waves.
let's think objectively as a trader should do... I gave you the level for the long scalp and it went 5% up... above the yellow box D possibility of seeing the 3400/3500
but let's see for short film lovers how they can have a little hope LOL
if it is rejected at 3100 and then confirms deviation under yellow box 4h, we will go to 2700/2600 and then start again
always study strategies in both cases! Don't just focus on 1 idea $ETH
Just a thought for #Bitcoin this morning.
Every time $BTC has hit a previous level of resistance, it has had a major pull back, before eventually pushing through. I'm sort of thinking one is due, but maybe that because i want o buy more #BTC lower once again 😆