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Ethereum: Max pain threshold is 3950

BITSTAMP:ETHUSD   Ethereum
According to the Elliot Wave Theory, price cannot go lower than the previous top for the impulsive uptrend to remain intact. That level was reached today around 3950 and price bounced quickly off that level. You can see my yellow line. The only bullish alternate count I can think of that would slightly breach that level and remain positive is an ending diagonal, that could see price reach 5400 by year-end.
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