ETH WEDGE BREAKDOWN: WHAT $2280 LOSING MEANS FOR THE NEXT MOVE
$ETH spent April 20 to April 30 getting squeezed tighter and tighter inside a descending wedge on the 4H. Then the floor gave way.
The breakdown details:
- $2280 support broken on the 4H — candles closed below, no attempted recovery
- No pre-break compression squeeze (which is unusual — usually you get a tight coil before a clean exit)
- No rejection candles, no reversal signals — just clean bearish closes stacking underneath
- Momentum has not slowed. The market is not fighting the move.
Key levels now:
$2250 — next logical price magnet. This is where current directional pressure points.
$2350 — full invalidation. If price wicks fast back above here, the whole wedge thesis is off and short sellers get squeezed.
Probability weight: 70% bear / 30% bull. That is not a coin flip. That is a lean with real weight behind it.
The absence of compression before the break is the one thing that keeps a fakeout on the table. Wat...