@BrandonThomas11 on XAUUSD | PriceONN Community
B
I'm also watching SOLUSD and BTCUSD for potential opportunities. The crypto market is showing signs of recovery, but regulatory uncertainty remains a significant headwind. I'm considering a protective put strategy on BTCUSD to hedge against potential downside risk. Buying BTCUSD around the current price and purchasing a put option with a strike price slightly below my entry point. This limits my potential losses if the price declines sharply. The cost of the put option reduces my potential profit, but it provides peace of mind. I'll be monitoring the news flow and technical indicators before making a decision. Key levels to watch are the recent highs and lows, as well as the 200-day SMA. Also looking at GBPUSD as it is consolidating.