Pfizer Inc. and other leading US pharmaceutical companies have joined the Blockchain network construction project for the medical and pharmaceutical industries, according to the published press release.

The McKesson Corporation, AmerisourceBergen Corporation, and Premier Inc. joined the MediLedger working group and Pfizer Inc. MediLedger - Blockchain initiative of Chronicled Inc. based in San Francisco - aims to reduce costs and streamline data sharing processes by creating a shared network. The solution allegedly automates the reconciliation processes and chargebacks - canceled or disputed transactions - that are a common occurrence in medical supply chains in the United States, where various entities are involved in payments, including government programs and private insurers.

Technical Market Overview:

The recent sudden spike at the ETH/USD market has moved way too much than expected and this is why the alternate Elliott Wave count has been added. To sum up: the main scenario is still bearish with the wave X completed at the level of 190.40 instead of 172.02, so now it is time for wave C of the overall correction in the wave 2 to unfold. On the other hand, according to the alternate count, the wave 2 has been completed at the level of 148.04 and now the market is developing the wave 3 of the overall impulsive movement to the upside. The target for the wave up is seen at the level of 203.28.

Weekly Pivot Points:

WR3 - 187

WR2 - 179

WR1 - 170

Weekly Pivot - 162

WS1 - 152

WS2 - 144

WS3 - 134

Trading Recommendations:

The target for the potential wave B has been hit and easily exceeded as we can see from the chart, so all the buy order should be now well in profit. Nevertheless, the next market movement is not that clear as we got two opposite scenarios, so it is not the best time to open any new positions and it will be better to stay aside until another trading setup occurs. For all traders that still keep the buy orders open, the next target is seen at the level of 203.28.