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Overview
Chart #1 - Solana (SOLUSDT) 12-Hour
Chart #2 - Boson Protocol (BOSONUSDT) 12-Hour
Chart #3 - Clearpool (CPOOLUSDT) 8-Hour
Chart #4 - Filecoin (FILUSDT) 8-Hour
Navigating BTC's Choppy Price Action: Short Strangle Strategy Approach: With Deribit’s Anand
Chart #1 - Solana (SOLUSDT) 12-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
SOL has retraced to a level of support where I expect it to bounce from.
It will likely head to the upper resistance levels.
Entry: $140
Take Profit (TP):
TP 1: $160 - $170 (14% - 21%)
TP 2: $200 - $220 (43% - 57%)
Stop Loss: Just below $135
The market has been ranging over the last few weeks, and if we see that SOL is struggling to get past TP 1, we’ll rather cut the trade and bank the profits.
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Chart #2 - Boson Protocol (BOSONUSDT) 12-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
BOSON recently showed some bullish moment climbing 250% then completing a healthy 50% retrace.
It has completed a high time frame shift on market structure leaning sentiment to the upside. There’s a very important resistance to clear on the horizon, at $0.73. If it clears above there and turns it into support, it will establish the new range low for a push towards $1.35.Â
Entry: $0.60 to $0.65
Take Profit (TP):
TP 1: $1
TP 2: $1.30
TP 3: $3 moonshot
Stop Loss: $0.40
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Chart #3 - Clearpool (CPOOLUSDT) 8-Hour
Chartist: Kyle
(For the chart screenshot, click here.)
The risk to reward ratio on CPOOL is currently very good, with price sitting on a major support line.
Entry: $0.175 to $0.185
Take Profit (TP):
TP 1: $0.24 35%
TP 2: $0.35 100%
TP 3: $0.7 (Moonshot)
Stop Loss:Â $0.12
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Chart #4 - Filecoin (FILUSDT) 8-Hour
Chartist: Sheldon
(For the chart screenshot, click here.)
FIL retraced down to the current level of support two days ago and has been holding it nicely. We can long it from here.
Entry: $5.85
Take Profit (TP):
TP 1:$6.75 - $7.00 (15% - 20%)
TP 2: $7.75 - $8.10 (32% - 38%)
Stop Loss: Just below $5.70
As mentioned above with SOL, the market has been ranging over the last few weeks, and if we see that FIL is struggling to get past TP 1, we’ll rather cut the trade and bank the profits.
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Navigating BTC's Choppy Price Action: Short Strangle Strategy Approach: With Deribit’s Anand
BTC's hourly chart is indicating choppiness due to resistance from overhead supply zones and price basing despite significant outflows in US BTC ETFs. Traders may find opportunities in the choppy market conditions by utilising a Short Strangle strategy.
Trade Structure
(OTM Call) Sell 1x BTC-27APR24-$66,000-C @ $150
(OTM Put) Sell 1x BTC-27APR24-$61,000-P @ $135
Payouts
Maximum Profit: $285/BTC
If the Bitcoin price is greater than $61,000 and less then $66,000 when the options expire on April 27th, traders will achieve maximum profit from this strategy.
It's important to note that a large price move in either direction could cause significant losses due to being short both a call and a put.
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