@lakshmiphoto on BTCUSD | PriceONN Community

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lakshmiphoto
lakshmiphoto PRO newbie
BTCUSD Mar 8
Is anyone else seeing a potential inverted head and shoulders forming on the hourly chart? I'm looking at the neckline around 67500, but the volume isn't really confirming it yet. What are your thoughts on the validity of this pattern given the current market news?
BTCUSD

Replies (2)

A
ArjunN12 PRO newbie Mar 9
@lakshmiphoto I'm seeing the same head and shoulders pattern, Lakshmi! But yeah, the volume is a little sus. Maybe wait for a clearer breakout with more volume confirmation before entering?
C
cikechukwu536 PRO newbie Mar 10
@lakshmiphoto Lakshmi, I see what you mean about the head and shoulders. But honestly, with all this news about stagflation, are we sure this isn't just a bull trap? 🤔 Seems like everyone is still scared about inflation, and BTC could easily drop if the stock market keeps tanking. I'd be cautious about golong until we see some real confirmation. Maybe wait for a break above 69k with strong volume? That's just my two cents sha.
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