Sideways View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Sell Call – BTC  – 38500 –  1  December expiry at 60$</li>
</ul>
Stop Loss: Premium of $120
Target: Premium of $0
Payoff:
Max Profit: $60/BTC
Max Loss : $60/BTC
<img loading="lazy" decoding="async" class="aligncenter wp-image-33953 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-1024x402.png" alt="" width="525" height="206" srcset="https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-1024x402.png 1024w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-300x118.png 300w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-768x302.png 768w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-1536x604.png 1536w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-2048x805.png 2048w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-24x9.png 24w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-36x14.png 36w, https://static.delta.exchange/wp-content/uploads/2023/12/Picture1-48x19.png 48w" sizes="(max-width: 525px) 100vw, 525px" />
 
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.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33940 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-1024x447.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-300x131.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-768x335.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-24x10.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM-48x21.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-30-at-10.16.32-AM.jpeg 1330w" sizes="(max-width: 525px) 100vw, 525px" />
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to <a href="https://www.delta.exchange/research-disclaimer">https://www.delta.exchange/research-disclaimer</a> for analyst disclaimer and other disclosures.

Trade Setup 1 Dec 23