@skapoor113 on ETHUSD | PriceONN Community
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Is anyone else noticing a potential ascending triangle forming on the ETHUSD hourly chart? The resistance seems to be around 2016, coinciding with the upper Bollinger Band. If we see a breakout above that level, it could signal a strong continuation of the current bullish trend. I'm curious to hear other's anlysis on this.
Replies
@skapoor113 I'm seeing the ascending triangle too, but I'm skeptical about a breakout. The Fed news is throwing a wrench in everything. Markets are too volatile rn. Plus, RSI is at 50, so there's no real momentum either way. I'd wait for a clearer signal before FOMOing in. A liquidity grab below the triangle before a real pump is possible. Be careful with your stops. I'd prefer to see volume pick up before considering a long position. NFA though.