There are two news.
One news is also the reason why we write this update. The mentioned in the last post level 0.018 got broken. Though it took a bit more than expected 12 hours, the volume is exactly as strong as we wanted to see it. Which gives us a strong support for our prefered Elliott Waves count. We will post chart down on the page.
Another news is even bigger. The long-awaited “The DAO” creation started. I’m sure most of you know about it or already invested in it, but for those who aren’t.
The idea behind is indeed revolutionary. To our knowledge it has never happened before that the organisation was funded in such a transparent and decentralized way. For investors it has two possible outcomes: the value of “the DAO” token could grow exponential (and bring huge returns) or the whole idea could fail spectacular. Time will tell which one is for real. But having said that, the writer of this update has also invested some ETH-er into “the DAO”.
Now, back to some charts..
That is the one from yesterday:
And today we adjusted some goals:
Our next steps?
Under the current Elliott Waves count the ETHBTC has nothing to do below 0.01710. If it does go below this level we will need to reconsider the count.
So, if the mentioned area 0.01710-0.01720 got broken on the way down.
Or if we see a finished Eliott Waves pattern on the way up.
We will post an update.
Otherwise, expect for our update on Monday.
By the way, you can also easily subscribe to our blog (the button is somewhere on the right side) and get notifications every time we post an update. But it’s up to you.
Take care and enjoy the weekend.