Things got so heated that the alts came a buying. Right about now to about 12 400 would be a great time to put the breaks on and take stock. Remember the posts in this thread: Hive Mind v Irrational Markets and Do Not Get Too Close? Now is a good time to have a think of where you are and what the risks are. Money Man has been scaling in and is nice and far enough from the price to prevent him from getting giddy or depressed in a hot second. Please run the play function on the previous BTC analysis linked below and run the ETH one – to see how BTC has performed in comparison. We are in the Decision Box, if you are not already in a trade. Chasing is not advised. Green Target 1 is very close / too close. Green Target 2 and 3 are both previous levels of contention and the red levels below us are a combination of Fib levels and areas where BTC had difficulties before.
Conclusion: “The back end of the trade” is a well-known trade on the exhaustion of a momentum move. Exactly where it will be, is not put up on road signs and not advisable to take, but it is good to know that there are many waiting to short exhaustion and might cause swift movement. Incorporate some defense in your offense. Very important to me: Please like if you appreciate the effort, please comment to develop this and Please follow if you think this might lead somewhere that you would like to know about.
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Previous BTC contribution
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Previous ETH contribution
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I have not done a complete analysis yet, but ETH so far looks like it will most prob consolidate here, but if madness continue then 438ish, 450ish, 470ish. BTC the same - if we get out now then 13800 and then 14100. I will write another analysis in about 12 hours. Keep calm and scale in - stay behind the price. Money Man advises to read the ed posts on Do Not Get Too Close and Parabolically Wrecked.