Bullish View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Buy 38200 Call option of 22 November expiry @ $220</li>
<li>Sell 38800 Call option of 22 November expiry @ $150</li>
<li>Sell (2x) 40000 Call option of 22 November expiry @ $50 each</li>
</ul>
Stop Loss: Spot level = $36400
Target: Spot level of $38800
Payoff chart at Expiry:
<ul>
<li>Max Profit: $600/BTC</li>
</ul>
<img loading="lazy" decoding="async" class="aligncenter wp-image-33649 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-1024x462.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-300x135.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-768x346.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-24x11.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-AM-48x22.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.22-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 22. This uptick in OI for such options further bolsters our confidence in the current market conditions.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33648 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-1024x447.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-300x131.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-768x335.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-24x10.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-AM-48x21.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-20-at-10.00.13-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 38200 Call option of 22 November expiry @ $220
 	Sell 38800 Call option of 22 November expiry @ $150


Trade Setup 20 Nov 2023

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