Money Man is keen on this ascending triangle, simply because of what happened at BTC’s previous ATH around 20 000. ETH still did a runner after BTC started failing. So his reckoning is that ETH would follow BTC if it had to go up further, or ETH would go up if BTC started correcting now. Of course, ETH could go down. Money Man’s bias is only that: a bias. The price does not care about his bias.
This ascending triangle correlates with what is happening in BTC in that positive notes from BTC pushes ETH up against the previous Green Target 2, now Green Target 1. The momentum spark it could need to get through 760. The normal TA target for the triangle would be up to 870, but that is a bit rich for Money Man’s conservative nature (at least for now).
Conclusion: There has been a lot of attention around ETH lately as it has moved seemingly contrary to BTC, illustrated in the previous analysis by the red oval. Interesting times indeed. Very Important to me: Please leave a 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.
This ascending triangle correlates with what is happening in BTC in that positive notes from BTC pushes ETH up against the previous Green Target 2, now Green Target 1. The momentum spark it could need to get through 760. The normal TA target for the triangle would be up to 870, but that is a bit rich for Money Man’s conservative nature (at least for now).
Conclusion: There has been a lot of attention around ETH lately as it has moved seemingly contrary to BTC, illustrated in the previous analysis by the red oval. Interesting times indeed. Very Important to me: Please leave a 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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