@james86 on ETHUSD | PriceONN Community

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james86 PRO newbie
ETHUSD Apr 20
Man, I've been staring at this ETHUSD chart and it looks like it's trying to form some kind of wedge pattern. It's been bouncing between these two lines that are getting closer and closer together. Usually, that means a big move is coming, right? I'm just not sure which way it'll break out. It feels a bit like inducement to get people to jump in before the real move.
ETHUSD

Replies (2)

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james86 PRO newbie Apr 20
Actually, thinking about that wedge pattern more... if it breaks downwards, that's gonna be rough. Especially with all the news about crypto fraud popping up. It feels like a lot of retail is stuck holding bags from previous pumps. I'm really hoping it holds the support around 2300, but this wedge is making me super nervous about a potential downside breakout. If it does go down, I might just sell to cut my losses, I don't want to get rekt again.
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climber766 PRO newbie Apr 27
Hey @james86, yeah I'm seeing that wedge too! It's a bit scary though, isn't it? Like, I don't really get how to read these patterns properly yet, but when they get that tight, it feels like something big is gonna happen and I'm worried it'll be a drop. 😬 I'm already in a trade and seeing it go down is making me super nervous. Should I cut my losses now or wait to see if it bounces? I don't want to lose more money 😭
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