On one side, market did what the author mentioned in the previous post as the levels to be watched: below the level 0.02970 with increasing volume towards 0.027. That’s why he writes an update.
On the other side, even though the author spend almost the whole evening watching the market, the price structure, pattern and sentiment still give us the room for both: bearish and bullish outcome.
This is the Elliott Waves structure which would fit into the final wave 4 (discussed during the last posts):
To keep it possible, the market can’t go lower 0.02660.
We will give the market this chance and will leave it till tomorrow morning (european time).
By the way, if you didn’t get the news about coinbase, adding ETH to its trading set, you can read this article -> Ethereum is the Forefront of Digital Currency. Nice read.
Besides, the story with LISK, whose CEO speaks too loud (pretended to have 250 mln. capitalisation before even official trading start for the coin) could become the classic “fail” story quite soon. The author thinks that the dev community doesn’t really like CEOs with this kind of overestimation. And without strong dev. community no succesful blockchain platform can be created. Some paradise for speculators (classic pump and dump) – yes, possible. But that’s all…
See you in the morning through the virtual window.
The Elliott Wave Principle describes the behaviour of the financial markets. This Principle is build on the mass psychology swings from pessimism to optimism and back in a natural sequence. When these swings happen, the specific Elliott wave patterns in price movements are created and become visible. Each pattern has implications regarding the position of the market within its overall progression, past, present and future.
The purpose of our blog posts is to outline the progress of markets in terms of the Elliott Wave Principle.
While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will my posts make specific recommendations for any specific person, and at no time may a reader or viewer be justified in inferring that any such advice is intended.
Very important. Investing carries risk of losses. You should be aware of all the risks associated with investing/trading financial instruments. Information provided in this blog is expressed in good faith, but it is not guaranteed.
The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities.
This blog and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.
In no event will we be liable for any loss or damage on your account in connection with the use of our publications.