Bitcoin, 29 SEP - Elliott waves | Gann | Astrology $BTC
Bitcoin bounced off the 20 week MA (in red) and Gann level 41884 for the 4th time. Volume has risen, indicating the continuing presence of buyers.
Our BTO entires at higher levels kept us safe. We may adjust them to stay clear of the blue box, the 50-60% retracement level, where sellers may step in and try to continue the bear market.
Selling options premium allowed us to generate a steady income as price lacked a clear direction in the past days. But we shall be mindful that an expansion of implied volatility may occur if wave (iii) unfolds. If you'd like to trade Bitcoin theta decay strategies you can use the link below to open an account with Deribit, the most liquid options exchange for BTC and ETH.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector QQQ to retrace the last selloff and crypto could then correlate.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Stocks & Futures broker (new: Crypto)
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
www.deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Our BTO entires at higher levels kept us safe. We may adjust them to stay clear of the blue box, the 50-60% retracement level, where sellers may step in and try to continue the bear market.
Selling options premium allowed us to generate a steady income as price lacked a clear direction in the past days. But we shall be mindful that an expansion of implied volatility may occur if wave (iii) unfolds. If you'd like to trade Bitcoin theta decay strategies you can use the link below to open an account with Deribit, the most liquid options exchange for BTC and ETH.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold has started to rise again, which could be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector QQQ to retrace the last selloff and crypto could then correlate.
______________
www.constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Stocks & Futures broker (new: Crypto)
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
www.deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binanc....me/en/register?ref=LLBB97...
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.