Research
Trade Setup 6 Oct 23
Delta Exchange
October 6, 2023
Bullish View on BTCUSDT Welcome to Daily Trade Setups. Trade:
- Sell Put Spread - BTC - 27200 - 26800 - 7 October expiry at 40$
Stop Loss: Spread Premium of $80 Target: Spread Premium of $0 Payoff: Max Profit: $40/BTC Max Loss : $40/BTC
Rationale: the Trend of BTC is up on daily time frame as 2 resistance has been violated viz 27400 & 28000 & price is retracing back to support areas of 27200. OI Analysis is adding odds to above analysis as well, with major writing at 27200 and 27000 levels. Can check OI on below page - https://www.delta.exchange/app/options_analytics
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.