Trade Setup 30 Jan 24

Sideways View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

• Sell Call Spread –  BTC  – 44400 – 44800– 31  January expiry at $55

Stop Loss: Spread Premium = $110

Target: Spread Premium = $0

Payoff:

Max Profit: $55BTC

Max Loss : $55/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.