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Delta Exchange Blog
Trade Setup 21 Dec 2023
Research

Trade Setup 21 Dec 2023

Delta Exchange
Delta Exchange
December 21, 2023

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

  • Buy 45000 Call option of 23 December expiry @ $240
  • Sell 46000 Call option of 23 December expiry @ $120
  • Sell (2x) 476000 Call option of 23 December expiry @ $45 each

Stop Loss: Spot level = $42500 Target: Spot level of $46000 Payoff chart at Expiry:

  • Max Profit: $970/BTC
  • Max Loss: $30/BTC

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 44000 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.

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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