Research
Trade Setup 25 Jan 2024
Delta Exchange
January 25, 2024
Bearish View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell 41400 Call option of 27 January expiry @ $130
- Buy 41800 Call option of 27 January expiry @ $80
Stop Loss: Spot level = $41400 Target: Premium = $0 in both legs Payoff chart at Expiry:
- Max Profit: $50/BTC
Rationale: The most recent movement in BTC suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts. For risk management, we recommend setting a stop loss at 40500 to invalidate the aforementioned setup.
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.