@BWhite57 on ETHUSD | PriceONN Community
Been watching ETHUSD and I'm seeing what looks like a descending wedge forming on the 15-min chart. It's been consolidating for the last hour or so, bouncing between lower highs and lower lows. If we get a breakout to the upside, might be a good entry. Keep an eye on volume for confirmation, though.
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This wedge thing is interesting. If it breaks upwards from this descending pattern, it could signal a reversal and we might see ETHUSD push back towards the 2350s, maybe even higher if the news about Bitcoin breaking $76k starts to spill over. But if it breaks down through the wedge, that's a different story. We could be heading back to test those 2290s, which is where the Bollinger bands are right now. Gotta be careful and wait for that clear signal before committing any more capital.