Trade Setup 31 Jan 2024

Bullish View on BTCUSDT

Welcome to Daily Trade Setups.

Trade:

• Buy 44000 Call option of 2 February expiry @ $270
• Sell (2x) 45000 Call option of 2 February expiry @ $130 each

Stop Loss: Spot level = $41300

Target: Spot level of $45000

Payoff chart at Expiry:

• Max Profit: $990/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.

For risk management, we recommend setting a stop loss at 41300 to invalidate the aforementioned setup.

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.