SPECIAL TRADE ALERT This is another high risk high reward trade, where conviction of direction is 50-50, but the reward if right is 5X to 10X on the underlying options. Think: HIMS, which went on to as high as a 757% Best Return before expiration. Bitcoin Pattern recognition software is labeling Bitcoin's set-up as a Rising Wedge Double Top with much lower prices to come. My EW analysis is labeling this decline a third wave at multiple degrees of trend. The IBIT Option tables suggests risking a 50% hard stop to make 10X if Bitcoin declines in line with Wave count, i.e., a $20K+ crypto crash. BTC Bitcoin Target: $70K-$50K IBIT IBIT has dropped from $61 to $48 over the past month, a similar rate of decline puts it under $40 sometime between Mar and Apr expiration. IBIT March Puts: IBIT April Puts Recommended Expiration: Going out to April allows for 28 more days than March, which gives this budding third wave plenty of time to unfold while still providing ample leverage to maximize returns. Gamblers can consider both expirations, i.e., half and half.
