Research
Trade Setup 1 Dec 23
Delta Exchange
December 1, 2023
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell Call - BTC - 38500 - 1 December expiry at 60$
Stop Loss: Premium of $120 Target: Premium of $0 Payoff: Max Profit: $60/BTC Max Loss : $60/BTC
Rationale: Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600, and price is back at resistance level again. Adding to our odds, we have observed high OI built-up at 38500 strike of 1st December expiry.
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to https://www.delta.exchange/research-disclaimer for analyst disclaimer and other disclosures.