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Delta Exchange Blog
Trade Setup 25 Oct 23
Research

Trade Setup 25 Oct 23

Delta Exchange
Delta Exchange
October 25, 2023

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

  • Buy 33600 Put option of 26 October expiry @ $215
  • Sell 33200 Put option of 26 October expiry @ $115

Stop Loss: P-33600 = $40 Target: Spot level = $33200 Payoff chart at Expiry:

  • Max Profit: $300/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 31700 during the recent trading session, signifying a promising upward trajectory. Examining the daily 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 October 27th. This uptick in OI for such options further bolsters our confidence in the current market conditions.

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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