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Delta Exchange Blog
Trade Setup 29 Nov 23 -1
Research

Trade Setup 29 Nov 23 -1

Delta Exchange
Delta Exchange
November 29, 2023

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

  • Sell Call Spread - BTC - 38400 - 38600 - 30 November expiry at 55$

Stop Loss: Spread Premium of $110 Target: Spread Premium of $0 Payoff: Max Profit: $55/BTC Max Loss : $55/BTC

Rationale: Following an impressive surge in BTC, we observed a retracement from the 38000 levels, leading to a dip in BTC’s value to 34900. This selling pressure successfully breached key demand/support zones, particularly around 35600, and price is back at resistance level again. Enhancing the probability of this scenario, there is notable open interest (OI) in the $38,500 call options.

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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