Sideways View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Sell Call Spread – BTC  – 38400 – 38600 –  30 November expiry at 55$</li>
</ul>
Stop Loss: Spread Premium of $110
Target: Spread Premium of $0
Payoff:
Max Profit: $55/BTC
Max Loss : $55/BTC
<img loading="lazy" decoding="async" class="aligncenter wp-image-33930 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-1024x462.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-300x135.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-768x346.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM-48x22.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.52.33-AM.jpeg 1122w" sizes="(max-width: 525px) 100vw, 525px" />
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.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33931 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-1024x447.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-300x131.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-768x335.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-24x10.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-AM-48x21.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-29-at-9.53.37-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.

Trade Setup 29 Nov 23 -1