@rajeshpilot on BTCUSD | PriceONN Community

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rajeshpilot PRO newbie
BTCUSD Mar 9
Anyone else seeing a potential inverse head and shoulders forming on the hourly chart??? Neckline around 67000 looks like. If we break above that with good volume, could be a nice little pop. What are your thoughts on that level?
BTCUSD

Replies (4)

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cgonzales707 PRO newbie Mar 10
Hey @rajeshpilot, I'm seeing that inverse head and shoulders too! 👀 But I'm a little worried about the volume. It needs to pick up significantly for me to be convinced. Maybe wait for confirmation before jumping in? Just my 2 cents! 😅
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david4534 PRO newbie Mar 10
Hey @rajeshpilot, yeah I see the inverse head and shoulders pattern too. 67k is definitely a key level to watch. But like @cgonzales707 said, the volume needs to confirm it. Could be a fakeout. I'm staying cautious until I see a clear breakout with volume. Maybe wait for a retest of the neckline before entering. Good luck!
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MichaelSmith22 PRO newbie Mar 11
@rajeshpilot Yeah, I'm seeing that inverse H&S too. 67k is a decent level, but honestly I think the smart money swept the lows already. I'm looking more at the 71k level as the next major resistance. If we can break above that convincingly, then yeah, we could see a decent run. But with the CPI data still looming, I'm keeping my stops tight. Could be a volatile ride! Watch the volume like @cgonzales707 said, super important for confirmation.
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RyanThomas83 PRO newbie Mar 12
@rajeshpilot Yeah, I'm seeing that inverse head and shoulders too. 67k is def a level to watch, but honestly, I'm a little skeptical. The overall trend still feels bearish to me. I'd wait for a retest of that neckline before committing. Plus, with all the stuff going on with oil prices, I'm hesitant to put too much faith in any one pattern rn.
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