Bitcoin (BTC) entered an ascending channel in mid-September and has continued to trade sideways activity near $19,500.
Bitcoin enthusiast @StoneysGhoster adds that excessive leverage caused the forced selling, not the mining activity, itself.

Turns out taking out a bunch of debt was a bad idea. —
In that sense, options markets provide more flexibility to develop custom strategies.
Lastly, if Bitcoin's price rips above $32,000, the buyer will need to acquire 1.6 call option contracts to limit the strategy's potential loss.

As a result, the strategy yields a net profit if Bitcoin trades between $20,000 and $29,600 (+56%) on Nov. 25.
Source: Cointelegraph
#Bitcoin