Potential Launching Pad here for Wave 3 ETHUSD rally

This is overall a simple ABC corrective wave off of a monster of a rally that climaxed with the Part 1 Byzantium hard fork of Metropolis. From here we could very well see a wave 3 double-monster of a rally that breaks above $350 and reaches the upper-$300's in short time, right on time for the DevCon3 lead-up....
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Having said that, this is also a dangerous time as we've pretty simply (on little volume) gone right on down in a matter of days and touched a pretty major trendline which was seemingly nowhere in sight just a couple days ago. So keep a tight lid on stops. $300 is a solid one and price getting below $286 would be pretty disastrous at this point. We'll see...

For now though, getting above $331 will be a key trigger for Elliott Wave to signal that yes, this was indeed just a minor correction.

Commento:

Wow, this has quickly developed into a massive shake out. $286 has held thus far. But is still pretty vital. Below that would target the bottom of the ascending triangle at about $245'ish and quite possibly break below it.... Overall I don't think we come close to that here though, mainly because we never tested the top of the ascending triangle at the $400 region since we last tested the bottom of the ascending triangle.
So overall $286 is huge.

Commento:

Pretty sure we are moments away from a rocketing up of ETH and BTC.

Commento:

$340s would be my likely target in just a matter of hours, certainly with the next 24 hours. Maybe mid-$6k for BTC. We'll see.

Commento:

Hmm leadup to this tomorrow (www.meetup.com/New-Y...rt-Contracts-Meetup/) could actually light the spark that's needed.

Trade chiuso manualmente:

The Meetup was a bust. This trade was a bust overall. The buy-side volume is just not there like it was. Might be time to take a couple steps back here and just distance from ETH for a couple days.