MarketsFuturesOptions
AlgoHubPath 2
Algo Marketplace
Subscribe to Automated Strategies
Path 2
Trading Bot
Automate Bots from TradingView
Path 2
APIs
Create API key and Start Trading
Path 2
Trade Data
Download historical tick by tick data
Path 2
MorePath 2
Trade
RWA Tokens
Trade metal & stocks
Path 2
Straddle
Trade Straddles on BTC & ETH
Path 2
Spot
Buy and Sell BTC & ETH
Path 2
Strategy Builder
Create and analyse basket orders
Path 2
Demo Trading
Simulate real trading without risk
Path 2
Data
Analytics
A dashboard to visualize options data
Path 2
Rewards & Promotions
Offers
Claim Your Rewards
Path 2
Referral Program
Refer Friends and Get Rewards
Path 2
Delta Exchange Blog
Trade Setup 18 Dec 23
Research

Trade Setup 18 Dec 23

Delta Exchange
Delta Exchange
December 18, 2023

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

  • Sell Put- BTC - 38800 - 20 December expiry at 85$
  • Sell Call -BTC - 43200 - 20 December expiry at 85$

Stop Loss: Combined Premium of $340 of both legs Target: Premium of $0 in both legs Payoff: Max Profit: $170/BTC Max Loss : $170/BTC

Rationale: After a remarkable uptrend in BTC, we witnessed a pullback from the 448900 levels, resulting in a decline in BTC's value to 40250. We have a support areas / demand zone at 40225 levels on 4 HR time frame. Consequently, the price is now caught between newly established support and resistance areas in the recent price movements, rendering BTC sideways in the short term.

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.

Share