Potential Quasimodo pattern for short setup on BTCUSDTPERP 14/02
We can see a potential short setup for BTCUSDT with the following reason.
First, let's look at the H4 chart on the right:
- Price increases with decreasing in volume -> bull is showing weakness here.
- Wedge is being formed
- 50,000 USD is a psychological resistance
--> Not willing for a long here and expect a correction soon.
Now, we will come to the 30 mins chart on the left.
We can see the potential Quasimodo pattern and bearish divergence on RSI.
Short around 49,400 - 49,550
Take profit: Around 48,688
Stoploss: Candle closes above 49,900
*Please manage your risk.
First, let's look at the H4 chart on the right:
- Price increases with decreasing in volume -> bull is showing weakness here.
- Wedge is being formed
- 50,000 USD is a psychological resistance
--> Not willing for a long here and expect a correction soon.
Now, we will come to the 30 mins chart on the left.
We can see the potential Quasimodo pattern and bearish divergence on RSI.
Short around 49,400 - 49,550
Take profit: Around 48,688
Stoploss: Candle closes above 49,900
*Please manage your risk.
Trade closed: target reached:
Price hit 49,400 then to our TP