Technical analysis by Shved126 about Symbol BTC: Sell recommendation (2/9/2024)

As anticipated, BTC is nearing its highs, having successfully breached the $44k level. Seeing potential for a short even from these levels, my plan is as follows: I await a sideways movement between 46K and $47k, followed by a squeeze around $47,700. Subsequently, I expect a drop back to $44k. To capitalize on this scenario, I intend to use a Put spread strategy with options expiring on February 23.