Research
Trade Setup 5 Jan 2024
Delta Exchange
January 5, 2024
Sideways View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Buy 42200 Put option of 6 January expiry @ $280
- Sell (2x) 41200 Put option of 6 January expiry @ $120 each
Stop Loss: Spot level = $44500 Target: Spot level of $41200 Payoff chart at Expiry:
- Max Profit: $960/BTC
Rationale: BTC has exhibited a pattern of achieving lower highs and lower lows in its daily price movements. Notably, it broke through key pivot levels at 43500 during the recent trading session. Examining the 1-hour chart, it’s evident that the price is consistently adhering to established resistance / supply zones.
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.