Trade Setup 2 Feb 2024

Sideways View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

• Sell  44400 Call option of 4 February expiry @ $85

Stop Loss: Premium = $170

Target: Premium = $0

Payoff chart at Expiry:

• Max Profit: $85/BTC

 

Rationale:

The most recent movement in BTC suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts.

 

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.