Here’s a clever options strategy for cautiously optimistic Bitcoin traders By Cointelegraph

(BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited “significant buying pressure” and noted that the overall negative sentiment might be heading towards exhaustion.

Independent analyst Johal Miles noted that BTC’s price formed a bullish hammer candlestick on its daily chart on Jan. 24 and Feb. 24, hinting that the longer-term downtrend is close to an end.