Trade Setup 17 Jan 2024

Sideways View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

• Sell 44200 Call option of 17 January expiry @ $200
• Buy 44500 Call option of 17 January expiry @ $100

Stop Loss: Spot level = $44200

Target: Premium =$0 in both legs

Payoff chart at Expiry:

• Max Profit: $100/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 45800 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 and has retraced back to its base area of 41800$. This steadfast adherence underscores the robust buyer sentiment in the market.

 

 

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.