Trade Setup 6 Dec 23

SidewaysView on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

• Sell Put Spread – BTC – 42400 – 42200 – 8 December expiry at 45$

Stop Loss: Spread Premium of $90

Target: Spread Premium of $0

Payoff:

Max Profit: $45/BTC

Max Loss : $45/BTC

Rationale:

After BTC experienced a remarkable rise, there was a pullback from the 44490 levels, resulting in a decrease in BTC’s value to 43574.

Amid the BTC uptrend, a demand zone emerged at approximately 42300, indicating the potential for price retracement to this demand zone.

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.