Money Man has seen how ETH has reacted to his decision levels and felt compelled to make some logical adjustments. ETH has not been keen on BTC’s latest making of a new high around 42 000. It seems unconvinced that BTC means what it says. Waiting for BTC to lock it in with a pattern or negate it with a correction.
There will be much talk and it is getting clear to see the Head-and-Shoulders on BTC, but it is not as powerful as you might think. 1) It is in a longer uptrend and 2) it has an up-trending base. Money Man is not saying that it could be ignored completely, but that it is not as badly boding as a Head-and-Shoulders in a bounce or one with a base on a horizontal price level (especially one that was hard to get past). If BTC gets down to and bounces feebly at 36 000 / 37 000, then things will change though. How ETH will react to this is a crystal ball guess, but Money Man has belief in his levels.
Conclusion: Trading what you see and not what you think is difficult. What Money Man sees will not necessarily be what you see, and he is no arrogant fool, thinking his glasses are perfect. That is why traders need to calculate what is within bounds of their tolerance and what negates their bias. Very important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
There will be much talk and it is getting clear to see the Head-and-Shoulders on BTC, but it is not as powerful as you might think. 1) It is in a longer uptrend and 2) it has an up-trending base. Money Man is not saying that it could be ignored completely, but that it is not as badly boding as a Head-and-Shoulders in a bounce or one with a base on a horizontal price level (especially one that was hard to get past). If BTC gets down to and bounces feebly at 36 000 / 37 000, then things will change though. How ETH will react to this is a crystal ball guess, but Money Man has belief in his levels.
Conclusion: Trading what you see and not what you think is difficult. What Money Man sees will not necessarily be what you see, and he is no arrogant fool, thinking his glasses are perfect. That is why traders need to calculate what is within bounds of their tolerance and what negates their bias. Very important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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Previous ETH contribution
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The adjustment of the gates has delivered well. There has been a failure to reach all the way to Green Target 1 and Red Target 2, but we are clearly in a buildup now. Money Man is sticking to his levels as nothing much in that sense has changed in a week.
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Next ETH contribution
