Rule72

Rule72 Updated 

Money Man has still been keeping an eye on the relationship between ETH and BTC. As we all know, ETH has not been looking like a follower and more like a laggard. In the last while this seems to have been changing. So there is potential now. The decision levels have changed, but not symmetrical to BTC as Money Man decided to give ETH more space for if it gets a...

Rule72 Updated 

Money Man has been patiently waiting for something to happen, as something is always bound to happen. It seems that the time is near and so he decided to contribute again. He hopes you get to see this. His targets have largely stayed the same, but decisions will have to be made at different levels. This uptick has been with low volume and that is not that...

Rule72 Updated 

The question is now if the Breakup with 450 is done or will it still pull at the price. If so we easily see a retrace to Red Target 1. This would require BTC to falter, so keeping an eye on the related BTC chart linked below, could pay. The most probable situation now is that BTC rises and that would push ETH up quick. The ETH targets need to be considered, but...

Rule72 Updated 

There is so much attention around the symmetrical triangle that Money Man is starting to think that going up could turn into an ascending triangle as he has talked about in the contribution titled “Reading the Markets” (the ETH chart has just started warning us about this). This could cause a retracement from Decision Box 1 to Decision Box 2 – a pullback of $500...

Rule72 Updated 

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...

Rule72 Updated 

Money Man must move out of the way, the price is coming. The bounce has been good, but price does not want to go anywhere with lots of hangerers on. The order books have been cleared out up and down and now, with low volume, the market is looking for liquidity. Surely there are lots of people looking to trade breakouts of the painted “M” formation / double top and...

Rule72 Updated 

Please read this chart with the related BTC contribution linked below. Money Man does not like to trade via hit and miss type of trades. He is always content to rather be half right than occasionally wrong. Swinging into this with all your might could get you undone, so pay head and move with caution. Conclusion: There is a chance here, but as always far from a...

Rule72 Updated 

That one came close. Money Man put himself in what he thought was a safe position and that bullet only just missed him. He would not have suffered much as, if hit and it could still happen, he would still have been in profit. Just shows him that he should stay humble. Here is it acceptable and even preferable to shoot the market in the back while it is running...

Rule72 Updated 

Here is another chart, giving Money Man’s view on the market, followed by some constructive escapism or another set of glasses to try on. Money Man has stretched some indoctrinated traders who read these posts quite far and here he is going even further. He is aware of the negative ‘modern’ view on metaphors. Is it not strange that this is exactly how many...

Rule72 Updated 

Pressure from above is increasing. There are more and more micro levels of resistance just above price and Decision Box 1 reflects this. If price can break through and especially through Green Target 1, things would heat up fast. Downside looks similar, except for the obvious adjustments brought on by the latest move down and the area we are on the chart. The...

Rule72 Updated 

Please keep an eye on the related BTC chart. As there, we are having more complex resistance building above, but not as dense. Also here are the same adjustments because of the resistance formation and where we are finding ourselves on the chart. The build-up in both ETH and BTC is obvious and Money Man thinks, because of the nature of the pressure and the way it...

Rule72 Updated 

Please have a look at the accompanying chart to see Money Man’s read on the situation. Money Man cannot believe he drew this, but that is what the plot is telling him now. What could he do but draw it? Hopefully, more data would cause adjustment to the chart. There is an election that should keep things calmer. Picking up where we left off awhile ago, Money Man...

Rule72 Updated 

ETH has been bleeding steadily still to BTC. Bleeding on ups and downs and has reached a support level on its own chart and so also on the ETHBTC chart. Further bleeding could spell danger for ETH. The support on the ETHBTC chart is around 0.028 and the next notable support is around 0.025 – 10% lower. Support normally means support so do not write it off...

Rule72 Updated 

Bitcoin has been on the verge of some hard up moves and luckily has come back from the brink. Only problem is that moves are suddenly perceived to be the end of the world or “going to the moon” and this makes targets go thicker. As you know, Bitcoin has spent little time above where we turned. That combined with sentiment, that went into the extremes again, could...

Rule72 Updated 

Remember to not only keep an eye on the chart above, but also on the related BTC chart. Money Man has been, as you know, watching ETH move compared to BTC and realized that we are waiting for a correction that would see ETH not fully hitting targets. This got him thinking of how, think it was Rockefeller - please correct me, said that he loves selling before...

Rule72 Updated 

Keep an eye on the chart above. Again, the planned thread of ed posts are interrupted by an idea that is more pressing. See it as a bit of relevant escapism if you will. Not that Money Man is a guru, but he has been asked many times by fellow traders how to get out of a tight spot they were finding themselves in. Now we all know that giving financial advice,...

Rule72 Updated 

This analysis is premature as there is no clear pattern forming in the consolidation just yet, but Money Man felt compelled to put it out as the market is a bit dilly and could move without getting to some sensibility. The most likely scenario is for the market to keep consolidating into a discernible pattern, break it (getting everybody all excited) but then...

Rule72 Updated 

This analysis went so much easier than the related BTC one that Money Man is thinking he should have done it the other way around – that says something… He puts this one out without a clear pattern as with the BTC one but feels much more confidant like he felt the exact opposite with the previous set of related analysis. Conclusion: It is not supposed to work...