Under Pressure

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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 would likely resolve, that volatility would build up gradually and cross a tipping point where a decision would be made.

The big question is if ETH would sell itself for BTC if BTC goes up or if it would follow up on its own merits. Money Man has noticed an eagerness in ETH following BTC on its failed ups lately, even pre-empting them. Down would be down for both though.

Conclusion: We are waiting and if we manage to get through resistance, especially Green Target 2, things could get very interesting. We all know that ETH can outperform BTC on volatility any day of the week. Very Important to me: Please leave a like if you appreciate the effort, please comment and have this develop, Please follow if you think this is going somewhere you might want to know about.

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Related BTC chart

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Previous ETH contribution

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Trading with much attention on the BTC price now. Have a look there for an update on levels (marked "Related BTC chart" just above this). Will make another contribution soon. Waiting for a pattern or a move at the moment. Keeping calm and trading on.

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Next BTC contribution