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.

交易結束：目標達成

It seems like my stop loss was triggered just before the price reached my target. Stop hunt, baby <3