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Delta Exchange Blog
Trade Setup 4 Dec 2023
Research

Trade Setup 4 Dec 2023

Delta Exchange
Delta Exchange
December 4, 2023

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

  • Buy 42000 Call option of 5 December expiry @ $150
  • Sell (2x) 428000 Call option of 5 December expiry @ $75 each

Stop Loss: Spot level = $39000 Target: Spot level of $42800 Payoff chart at Expiry:

  • Max Profit: $800/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 40000 during the recent trading session, signifying a promising upward trajectory. Examining the 4-hour 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 December 5. 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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