Bullish View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Buy 38500 Call option of 17 November expiry @ $210</li>
<li>Sell (2x) 39500 Call option of 17 November expiry @ $105 each</li>
</ul>
Stop Loss: Spot level = $35800
Target: Spot level of $39500
Payoff chart at Expiry:
<ul>
<li>Max Profit: $1000/BTC</li>
</ul>
<img decoding="async" loading="lazy" class="aligncenter wp-image-33545 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-1024x462.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-300x135.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-768x346.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-24x11.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM-48x22.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.52.50-AM.jpeg 1122w" sizes="(max-width: 525px) 100vw, 525px" />
Rationale:
BTC has exhibited a pattern of achieving higher highs and higher lows in its daily price movements. Notably, it broke through key pivot levels at 36800 during the recent trading session, signifying a promising upward trajectory.
Examining the 4-hour chart, it’s evident that the price is consistently adhering to established support / demand zones. This steadfast adherence underscores the robust buyer sentiment in the market.
Moreover, we’ve observed a significant surge in open interest (OI) for out-of-the-money (OTM) put options expiring on November 17. This uptick in OI for such options further bolsters our confidence in the current market conditions.
<img decoding="async" loading="lazy" class="aligncenter wp-image-33546 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-1024x447.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-300x131.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-768x335.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-24x10.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-AM-48x21.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-16-at-8.53.16-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.

Bullish View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

 	Buy 38500 Call option of 17 November expiry @ $210
 	Sell (2x) 39500 Call option of 17 November expiry @ 

Trade Setup 16 Nov 2023

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