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Short BTC Setup Based on Structure Break and Quasimodo Pattern Short BTC Setup Based on Structure Break and Quasimodo Pattern (1-Hour Time Frame)
Here's a potential short setup for Bitcoin (BTC) using a structure break on the 1-hour time frame and the Quasimodo (QM) pattern, illustrated by the chart:
Structure Break Analysis:Current Price: BTC is trading around $68,159.
Key Levels:
PDH (Previous Day High): $69,526.65
D-open (Day Open): $68,400
PDL (Previous Day Low): $67,159.03
Quasimodo (QM) Pattern:
Higher High (HH): BTC reached a peak at $69,600.
Higher Low (HL): A trough formed around $68,000.
Lower High (LH): BTC formed a lower high at $68,400 (near the day open).
Lower Low (LL): The potential lower low could be around $67,000 (near PDL).
Entry and Execution:
Entry Point: Short at the retest of the D-open level ($68,400) after the structure break.
Stop Loss: Place above the recent lower high, around $68,500.
Take Profit: Target the PDL level at $67,159 or adjust based on a favorable risk-reward ratio.
Chart Analysis:
The chart shows BTC breaking below the D-open level, indicating a potential bearish trend continuation.
The Quasimodo pattern suggests a bearish reversal, with BTC forming a lower high and breaking below the higher low.
By following this setup, traders can potentially capitalize on the bearish momentum in BTC. Remember to use proper risk management strategies to protect your capital.
🚧BITCOIN will Go Up Again🚧 Road Map(1-H)🗺️!!!As you can see, the price has reacted well to patterns in the past. If we are optimistic or realistic now, the price can grow well after breaking this pattern.
🤑Stay awesome my friends.
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XAUUSD BULLISH We are looking to buy gold from here 1634 till 1720 almost 900 pips we are predicting last time we predicted it to go down from 1664 till 1628 almost 350 pips and now its looking up and more then just up its almost 900 pips fro our perspective so buyers here is one of the best opportunitites we have for you with proper risk amangement the stop loss will be of 1620 and the target will be of 1720 so the ratio is almost 1:9 hope traders will make a fortune out of it
EURAUD WEEK movement Sellers are more activewe have seen some very odd fluctuations in EURAUD but now is the time for the sellers to be more aggressive with the trade we are expecting it to move like 1000 pips down from 1.52860 but for now, let's go for 100 pips as this is the maximum movement we can get so far for today
Bitcoin forming a falling wedgeBased on my TA, BTC is currently forming a falling wedge on the daily TF which is a bullish reversal pattern.
You can see my analysis clearly on the chart.
So, I would swing trade it as follows:
Enter: 2 daily candle close above
the falling wedge around $42542.83
SL: $40426.45
TP: $46428.75
what do you think of this trade?
**Disclaimer**
This is not a financial advice.
BITCOIN:NEW OPPORTUNITY|DOWNTREND+SIDEWAYS|SHORT SETUP 🔔Welcome back Traders, Investors, and Community!
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Bitcoin with possible Whale VOLUM TO 59K TREND - BUY DIPHello friends,
Bitcoin looks to have a buy dip trend by whale signal from us Watchtrend.
We can expect from the 56K a new re-entery to 59K trend on day- trade and possible long term order.
The markets looks now into A BUY DIP TREND.
# AS its buy dip trend use a good stop limit and good riskmangement, as market can change in downtrend
Discipline are the key to success - Take profit - Learn from your mistakes and never give up!
The reason 1 that 90% of traders lose, not because they can't trade, but because they trade emotionally.
if this appeals to you then learn yourself first before starting with trading.
#Always do your own research don't follow us or someone else blindly
Bitcoin Has Spiked Beyond $13K And Signaling To Hit $14K SoonHey friends, hope you are well and welcome to the new update on Bitcoin.
In April 2020 I shared the post where I showed that on monthly chart the price action of BTC has completed final leg of bullish Garltey move. And as per Fibonacci sequence of Bullish Gartley the priceline turned bullish from the potential reversal zone of this harmonic pattern and produced more than 94% rally. At this time the 0.786 Fibonacci projection is working as a strong resistance and the candlesticks of the leading cryptocurreny is trying to break out this resistance.
In my previous article I showed you few more things that the priceline of BTC is forming different harmonic moves on hourly chart and having very firm support of an uptrendline as well. And these moves were signaling for a big move soon.
After using 100 simple moving average support the priceline turned bullish and broke out the $11K to $11150 resistance level . And $11000 to $11150 started working as very strong support. In the meanwhile the priceline of Bitcoin also retested these supports which were previously working as resistance and after successful re-test spiked more beyond $13K.
Now I want o show you the upchannel on weekly chart that was the base of my prediction that the priceline can spike upto $13500 very soon. Previously when I posted this up channel on 2nd oct the priceline was at $10398 and now after this move the Bitcon has reached beyond $13300 that is more than 28%.
Now if we take a look at this channel on live chart then the priceline of King of all cryptocurrencies is reached more than the half of this channel. The Bollinger bands is showing resistance therefore once Bollinger bands will be expanded then the price action can move upto the resistance of this channel that is almost at $14K. The price action has also good supports of simple moving averages with the time period of 25, 50, 100 and 200 as well.
Conclusion:
Even though the price action has turned very strong bullish and spiked beyond $13K but the Bollinger bands is showing a strong resistance. Therefore I need to keep an eye on the Bollinger bands once it will start expanding then there will be more space created for candlesticks to move upto the resistance otherwise the lower bands of bolling bands indicator is below the support of channel and the priceline can move up this level as well.