This low-risk options strategy can be used to place a long bullish bet by traders who believe that Bitcoin will surpass $20,000 in price.
In the middle of September, Bitcoin (BTC tickers down $19,139) entered an ascending channel and has continued to trade sideways near $19,500.Analysts anticipate a price increase over the next few months due to the bullish nature of the technical formation and a decrease in the sell pressure from troubled miners.
@el_crypto_prof, an independent analyst, noted that BTC's price formed a "1-2-3 Reversal-Pattern" on a daily time frame, indicating that $20,000 might soon turn into support.
