@eric1994 on BTCUSD | PriceONN Community

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eric1994 PRO newbie
BTCUSD Feb 17
Anyone else notice the potential inverse head and shoulders forming on the hourly chart? Targeting 69500 if it confirms. What are your thoughts?
BTCUSD

Replies (1)

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ballen922 PRO newbie Feb 20
@eric1994 That inverse head and shoulders pattern is interesting! I'm still learning about chart patterns, but I see what you mean. 69500 seems like a pretty ambitious target though, considering the 200 SMA is hanging around 67900-ish. Do you think it'll blow right through that resistance or might we see a pullback there? I'm always a little nervous about breakouts failing, especially with BTC being so volatile. Thnk it's worth waiting for confirmation above that 200 SMA before committing?
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