Bearish View on BTCUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Buy Put Spread BTC – 25600-25200 of 25 August expiry at 52$</li>
</ul>
Stop Loss: Spot level 26400
Target: Spot level 25200
Payoff:
Max Profit: $348/BTC
Max Loss w/o SL: $52/BTC
<img decoding="async" loading="lazy" class="aligncenter wp-image-32300 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-1024x629.jpeg" alt="" width="525" height="322" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-1024x629.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-300x184.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-768x472.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-24x15.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-36x22.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM-48x30.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-9.27.50-AM.jpeg 1194w" sizes="(max-width: 525px) 100vw, 525px" />
 
Rationale:
On daily timeframe major support of 26000 is broken making the trend Down.
<img decoding="async" loading="lazy" class="aligncenter wp-image-32289 size-large" src="https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-1024x464.jpeg" alt="" width="525" height="238" srcset="https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-1024x464.jpeg 1024w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-300x136.jpeg 300w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-768x348.jpeg 768w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-330x151.jpeg 330w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-24x11.jpeg 24w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-36x16.jpeg 36w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1-48x22.jpeg 48w, https://prod-wp.delta.exchange/wp-content/uploads/2023/08/WhatsApp-Image-2023-08-23-at-8.58.06-AM-1.jpeg 1281w" sizes="(max-width: 525px) 100vw, 525px" />
 
Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to <a href="https://www.delta.exchange/research-disclaimer">https://www.delta.exchange/research-disclaimer</a> for analyst disclaimer and other disclosures.

Trade Setup 23 Aug 23

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