@joshua9949 on BTCUSD | PriceONN Community

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joshua9949
joshua9949 PRO newbie
BTCUSD Feb 27
Has anyone else observed a potential inverse head and shoulders pattern forming on the hourly chart for BTCUSD? The neckline appears to be around 68000. A confirmed breakout above this level could provide a high-probability entry point, with a potential target near 69500. I'm curious to hear other perspectives on this pattern and its validity in the current market environment.
BTCUSD

Replies (1)

F
folashade00 PRO newbie Mar 3
Hello @joshua9949, thanks for sharing your observation about the inverse head and shoulders pattern. I'm still learning to spot these, so it's really helpful. I see the neckline you're talking about around 68000. If it breaks, would you really aim for 69500, or would you take profits earlier, maybe around 69000? I'm always so worried about missing out on profits, but also about the price reversing on me. What's your risk management strategy for a trade like this? I really want to improve my trading game, and any advice would be appreciated. Thanks in advance!
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