@dwright756 on BTCUSD | PriceONN Community
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Anyone else seeing a potential inverse head and shoulders forming on the hourly chart? Neckline around 71500, could be a decent long setup if it breaks with volume. RSI is showing some bullish divergence too. Thoughts?
Replies
Hey @dwright756, I've been monitoring that potential inverse head and shoulders on BTCUSD myself. The neckline at 71500 is a significant level. The RSI divergence you mentioned is also quite clear on the 1-hour chart, suggesting some upward momentum could be building. I'm waiting for a confirmed break above R1 at 74044 with strong volume before considering a long entry.
Hey @dwright756, I've been watching that potential inverse H&S on the hourly too. The neckline at 71500 is definitely a key level to break. I'm a bit skeptical though, given how quickly sentiment can flip with these Fed rate cut rumors. The RSI divergence is promising, but I'd want to see solid volume confirming a break above that neckline before considering a long.