July 21st Trading Update from the Summer Chasers - Top Strategy: Long Put Butterfly - Most Wanted Option: BTC-26DEC25-140000-C - Volatility Commentary: Having finally taken the lid off above $112k, BTCUSD has found a short-term consolidation level around 117-120k . We expect the most probable path from here is to continue onwards and complete the progression with terminal target in the 125-135k range, but there is a high risk of elongation/further correction given the price action to get here Support below here is initially at $116k and then below that at the previous highs of $112k. A clean move below $112k would leave us revisiting the question ‘is the upward move already complete?’. Topside target continues to be 125-135k after which we expect the market to enter into a more volatile and choppy corrective period that could span 2-6 months 🎁 Join the Deribit x SignalPlus Trading Competition for a chance to win a Tesla, a Rolex, and share 300K USDC: https://t.signalplus.com/deribitsummerchase(Deribit)