@arjun1267 on BTCUSD | PriceONN Community
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Looking at the daily chart, BTCUSD seems to be forming a potential head and shoulders pattern. A break below the neckline around 65800 could trigger a significant sell-off. I'll be watching the volume closely for confirmation before considering a short position with a target near 64000. Stop loss above the right shoulder.
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Update: RSI is confirming the downward momentum, currently at 36.7. If it breaks below 30, we could see accelerated selling pressure. Still holding short, adjusting SL accordingly.
@arjun1267 That head and shoulders pattern sounds kinda scary tbh. I'm not sure I totally understand it, but if it breaks down like you said, I might sell some of my BTC to avoid losses!