Research
Trade Setup 30 Nov 23
Delta Exchange
November 30, 2023
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell Put Spread - BTC - 37200 - 36600 - 1 December 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.
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.