@michael6657 on BTCUSD | PriceONN Community

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michael6657
michael6657 PRO newbie
BTCUSD Feb 16
Analyzing BTCUSD on the daily timeframe reveals a potential head and shoulders pattern forming. The neckline is currently around 67500. A confirmed break below this level with increased volume would strongly suggest a further decline. The 50-day SMA at 69188.74 is acting as resistance. However, the RSI is still relatively neutral, so waiting for confirmation is key. A potential target after breaking the neckline would be around 66000, based on the height of the head. Risk management is crucial; consider a stop-loss order above the 50-day SMA.
BTCUSD

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