The downside target in QBTC should be around the 21 weekly EMA. The same as a bottom on BTC chart during a bull market is 21weekly EMA. I believe BTC is going sideways between 30k and 40k as is normal in Altcoin cycles. As such this 2.5 Risk Reward makes sense with limited downside risk. If Bitcoin should retest 40K BTC I'm out. As EMA should keep moving up this position can have a weekly narrowing stop-loss increasing risk-reward.
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I closed this trade Friday Jan 29th to move to ETHC at $3.20. I was a bit early the ETH has continued to outperform.