Research
Trade Setup 17 Oct 23
Delta Exchange
October 17, 2023
Bullish View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Buy 29000 Call option of 20 October expiry @ $180
- Sell (2x) 30000 Call option of 20 October expiry @ $70
Stop Loss: Spot level of 27500* Target: Spot level of 30000 Payoff:
- Max Profit: $960/BTC* (It's based on expiry)
- Max Loss: $40 /BTC* (It's based on expiry: Refer Spot level for SL)
Rationale: BTC has violated / broken key resistance areas of 28000 during rally on 16th October, and the trend has shifted to up from being sideways On 1 Hr timeframe, price is retracing back to base of 28000, which is a support area for BTC.
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.