Research
Trade Setup 2 Feb 2024
Anand Raj
February 2, 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.