These instruments seem to be synchronized, and soon to end a retracement rally. In the case of ETH, which has been underperforming everything due to fundamentals (problems in the code of a sub-proyect), there's potential for a big correction, but only if we cross the key levels on chart in time. If the targets aren't met on time, a contrary move might start, so...
We had massive moves in DAO and ETH pairs today, due to the news regarding a problem with the code in the DAO.
Apparently, the uptrend is still in place, but there is a lot of fear in the air right now. This is the right enviroment to buy dips, and as you can see the support is holding for now (see green triangle and the dashed lines).
Technically speaking, I...
Fundamentally, it appears that somebody wrote a smart contract.
/*
Developers, cryptographers and computer scientists should note that any high-level tools (including IDEs, formal verification, debuggers, symbolic execution) that make it easy to write safe smart contracts on Ethereum are prime candidates for DevGrants, Blockchain Labs grants and String’s...
Note that this is an alternate count:
If, and only IF, Ether was to fall below the critical 8.96 mark - currently counted as wave 1 of an impulse - the current wave count would be invalidated (see link to main count below). This would mean an immediate switch in outlook from the current view of being in wave 4 of a 5 wave move to the upside - to being in wave C...
Two very similar impulses here with slight variations probably because no real baseline for the first impulse.
Both had short 1st waves small 2nd wave retracements an long 3rd waves. Classic 1-2-3-4-5 patterns most likely but I don't want to get into the intricacies of counting all the sub-waves.
Also each had a small LTF correction above the 1st correction. So...
This rally is difficult to count. Overall it can't (yet) be called impulsive, so I suspect it's wave B of a correction. My best guess so far on counting it seems to be to call the move from the A wave low a double zig zag with the final (?) C wave being an ending diagonal. I would expect the 5th wave of the diagonal to throw over the top of the pattern slightly -...
