BITF 7/21 2.5C/3C - $3.78 TP

Short term options trade idea

1. HTF Bullish Chart Structure

- 3D and 1W bullish engulfing bars, 1M bullish reversal bar

- Higher-High, Higher-Low bullish structure from January to March

- Textbook bottoming/reversal pattern during April/May suggesting a
continuation instead of a breakdown of the H/h, H/l trend

- Since the low at $1.53, price action has broke through resistance at $2.11,
confirmed the subsequent R/s flip and started a new H/h ($2.58), H/l ($2.14)
trend

- With price action closing the week at $2.87 (new H/h), a bullish continuation
is warranted

2. Open Price Targets Above

- EBs at $3.08 and $3.38

3. Clear Support/Resistance Levels

- 4H support at $2.33-$2.58, 4H resistance at $3.78-$3.90