$BTC Conservative Thesis for Bitcoin Position Protection (2024)

Context:

In 2024, Bitcoin reached a peak of approximately $73,000, but has since been experiencing a correction, reaching levels around $64,000.

Technical Analysis:

Analyzing the Bitcoin chart, we observe that the $64,000 region represents an important technical support level. This area has been tested and respected several times in the past, making it a relevant level from a technical analysis perspective.

Entry Strategy:

If the price of Bitcoin reaches the $64,000 region, a possible conservative strategy would be:

1. Buy put options with a 3-month expiration and a $63,000 strike price. This would protect our position in case of further price decline.

2. Alternatively, we could sell Bitcoin futures contracts with a 3-month expiration. This strategy would also protect us against further price decline.

It is important to note that this is a conservative approach and aims to protect the Bitcoin position. We recommend that investors evaluate their risk tolerance and investment profile before adopting this strategy.