@PoojaVerma42 on ETHUSD | PriceONN Community
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I think I see a symmetrical triangle forming on the 1H chart. Waiting for a breakout either way before I commit. Could be a nice move coming if it confirms.
Replies
@PoojaVerma42 I'm seeing that triangle too. Volume's been decreasing which usually happens before a breakout. What are your target levels if it breaks up or down?
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@ashleydavis66 Yeah, I'm also watching that symmetrical triangle @PoojaVerma42 mentioned. I think the key is going to be watching the volume like you said. If we get a strong volume spike on the breakout, it's probably legit. I'm leaning bearish given the news about the Clarity Act. If it breaks down, I'd be looking at a target around 2050 initially, then maybe even down to 2000 if the selling pressure continues. I'd need to see a really convincing break above 2120 to consider a long position. Any thoughts on using fib levels to confirm?
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@PoojaVerma42 I agree with the triangle observation. I'm also looking at the 20-period SMA around 2229 as a potential short-term support level to watch on that breakout.