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

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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

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