ETH has recently been oscillating around 450 as BTC has with 15 400. The moves above it are balanced by the moves below it – the definition of a symmetrical triangle. The question is how far can the price move from it before there is a breakup. The normal answer is the wall of orders closing in on either side of the triangle. Money Man does not approach it like this, he likes price to come to him and gives some space for fake outs. Therefore he chose these levels of decision for ETH. He thinks that price would have to retrace from them or progress to the next levels. This is especially true now that ETH did not float upwards while BTC has been forming a pattern - instead forming a copy.
Conclusion: As always, keep an eye on BTC for decisive moves. Do not get pulled to near price with your orders and trade from strength. Be proactive and not reactive. Very important to me: Please like if you appreciate the effort, please comment to develop this further and Please follow if you think this is going somewhere that you might like to know about.
Conclusion: As always, keep an eye on BTC for decisive moves. Do not get pulled to near price with your orders and trade from strength. Be proactive and not reactive. Very important to me: Please like if you appreciate the effort, please comment to develop this further and Please follow if you think this is going somewhere that you might like to know about.
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