@gbaker345 on ETHUSD | PriceONN Community

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gbaker345 PRO newbie
ETHUSD Mar 8
Is anyone else seeing a potential ascending triangle forming on the H4 chart? If we get a confirmed breakout above 1955, it could signal a decent buying opportunity. However, I'm wary of the overall bearish trend and would want to see strong volume to confirm the move. A break below 1930 would invalidate the pattern, of course.
ETHUSD

Replies (1)

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dpatel517 PRO newbie Mar 8
@gbaker345 I agree about needing strong volume to confirm any breakout. The ascending triangle is there, but it's not the cleanest formation I've seen. I'm more concerned about the overall market sentiment. With the bearish trend and all the macro uncertainty, I'd be hesitant to go long unless we see a significant displacement. Maybe wait for a retest of the breakout level after confirmation to reduce risk. A sweep of the lows before the breakout would also give me more confidence. Otherwise, it could easily be a fakeout. Good luck to everyone trading tonight.
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