I do think this price and volatile is attractive for selling puts because I am being paid to wait till my strike price to buy or add a position. However, the strike price needs to be chosen carefully and the position added will be more significant than just a nibble.
I do think there is a good chance of bitcoin rebounding at around $90k but I would prefer a strike price at $80k to be have a greater safety margin. I wouldn’t take profit at $90k as the long term potential price is defin more than it. Neither would I add positions as the safety margin is not there. I would prefer to add at below $80k for a long position.
I am also looking at ETH and COIN as alternatives to bitcoin. ETH is currently seen as stable alt coin with long term potential and COIN has always been seen as an alternative to the cryptocurrencies themselves. Robinhood and circle are too risky for my ris appetite and I would prefer to watch further.
Bitcoin Defends $85K: Is Bull Cycle Nearing Its End?
Bitcoin is trading around $85k, a key support level.
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Strategy defended its positioning after index-removal concerns, with Saylor backing the stock with a $2.8 billion commitment.
Historically, post-halving rallies have often been followed by sharp drawdowns.
Is this Bitcoin bull market ending?
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