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Here’s how Bitcoin pro traders plan to profit from BTC’s eventual pop above $20K By Cointelegraph


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. Analysts expect a price rise over the next few months due to the bullish nature the technical formation and the drop in sell pressure from troubled miners.

Price of Bitcoin/USD at the FTX. Source: TradingView

@el_crypto_prof an independent analyst noted that BTC’s prices formed a “1-2-3-Reversal-Pattern” on a daily basis, suggesting that $20,000 could soon flip to support.

Bitcoin options Iron condor skewed strategy return Source: Deribit Position Builder