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Delta Exchange Blog
Trade Setup 15 Nov 2023
Research

Trade Setup 15 Nov 2023

Delta Exchange
Delta Exchange
November 15, 2023

Bearish View on BTCUSDT Welcome to Daily Trade Setups. Trade:

  • Buy 34200 Put option of 16 November expiry @ $50
  • Sell 33600 Put option of 16 November expiry @ $30
  • Sell (2x) 33200 Put option of 16 November expiry @ $15 each

Stop Loss: Spot level = $36800 Target: Spot level of $33600 Payoff chart at Expiry:

  • Max Profit: $405/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. Also, we have observed a fresh supply zone been formed around 36120 levels, which will act as a resistance for price, Above setup is a bear put spread / put debit spread which allows you to profit from a potential downward movement while limiting your risk.

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.

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