PANews reported on November 20th that, according to the daily briefing from the Greeks.Live English community, overall market sentiment is bearish, with differing opinions within the community regarding the formation of a bottom. Traders are closely watching $90,000 for BTC and $2,800-$2,900 for ETH as key support levels. Some believe the current price has bottomed out, while others predict that BTC may fall further to just over $80,000 and ETH to $2,400. Furthermore, traders are employing aggressive naked option selling strategies in a high-volatility environment, focusing on selling ETH 2700P and 3150C contracts expiring this weekend to capture premium gains. However, this strategy faces unlimited downside risk due to the lack of hedging in naked selling, especially if ETH falls below $3,000, potentially triggering a cascading drop to $2,400. Traders need to carefully manage their positions to avoid potential losses.PANews reported on November 20th that, according to the daily briefing from the Greeks.Live English community, overall market sentiment is bearish, with differing opinions within the community regarding the formation of a bottom. Traders are closely watching $90,000 for BTC and $2,800-$2,900 for ETH as key support levels. Some believe the current price has bottomed out, while others predict that BTC may fall further to just over $80,000 and ETH to $2,400. Furthermore, traders are employing aggressive naked option selling strategies in a high-volatility environment, focusing on selling ETH 2700P and 3150C contracts expiring this weekend to capture premium gains. However, this strategy faces unlimited downside risk due to the lack of hedging in naked selling, especially if ETH falls below $3,000, potentially triggering a cascading drop to $2,400. Traders need to carefully manage their positions to avoid potential losses.
Greeks.Live: BTC at 90,000 USD and ETH at 2,800-2,900 USD become key support levels.
PANews reported on November 20th that, according to the daily briefing from the Greeks.Live English community, overall market sentiment is bearish, with differing opinions within the community regarding the formation of a bottom. Traders are closely watching $90,000 for BTC and $2,800-$2,900 for ETH as key support levels. Some believe the current price has bottomed out, while others predict that BTC may fall further to just over $80,000 and ETH to $2,400.
Furthermore, traders are employing aggressive naked option selling strategies in a high-volatility environment, focusing on selling ETH 2700P and 3150C contracts expiring this weekend to capture premium gains. However, this strategy faces unlimited downside risk due to the lack of hedging in naked selling, especially if ETH falls below $3,000, potentially triggering a cascading drop to $2,400. Traders need to carefully manage their positions to avoid potential losses.
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