Bearish View on ETHUSDT
Welcome to Daily Trade Setups.
Trade:
<ul>
<li>Sell ETH Perpetual future at $2050</li>
</ul>
Stop Loss: $2065
Target: $1965
Payoff:
Max Profit: $60/ETH
Max Loss : $40/ETH
<img loading="lazy" decoding="async" class="aligncenter wp-image-33887 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-1024x462.jpeg" alt="" width="525" height="237" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-1024x462.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-300x135.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-768x346.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-24x11.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM-48x22.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.12.11-AM.jpeg 1122w" sizes="(max-width: 525px) 100vw, 525px" />
Rationale:
The latest price action in ETH indicates a potential pause in the rally, with some retracements observed. Additionally, a newly formed supply zone/resistance has been identified on the charts. 
Currently, the price is making an effort to retrace towards the supply zone at 2050.
We can use 2065 as stop loss of for invalidation of above setup.
<img loading="lazy" decoding="async" class="aligncenter wp-image-33888 size-large" src="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-1024x447.jpeg" alt="" width="525" height="229" srcset="https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-1024x447.jpeg 1024w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-300x131.jpeg 300w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-768x335.jpeg 768w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-24x10.jpeg 24w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-36x16.jpeg 36w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM-48x21.jpeg 48w, https://static.delta.exchange/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-28-at-10.13.54-AM.jpeg 1330w" 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 28 Nov 23