Crypto Industry News:

The German police, together with Europol, closed the dark web market servers and took a six-digit amount in cryptocurrencies from arrested suspects.

Wall Street Market, reportedly the world's second largest dark web market, was closed by the German federal criminal police under the authority of the German prosecutor's office. According to the report, the German authorities arrested three suspects and took over 550,000 euros in cash along with Bitcoin and Monero in six-digit amounts (the value is unspecified real), as well as several cars, computers, hard drives, and other items.

Europol noted that there were over 1.15 million users registered on the Wall Street Market, of which 5,400 as drug sellers, stolen data, fake documents and malware.

Technical Market Overview:

The ETH/USD pair has completed the wave X of the overall corrective structure at the level of 172 and started to unfold another three waves down from there. Wave A might have been completed at the level of 155 already, so now it is a time for wave B to unfold. The likely target for wave B is seen at the local trendline resistance around the level of 165-166. After the wave B is completed, there is still wave C left to unfold in order to complete the larger degree correction in wave 2.

Weekly Pivot Points:

WR3 - 187

WR2 - 179

WR1 - 170

Weekly Pivot - 162

WS1 - 152

WS2 - 144

WS3 - 134

Trading Recommendations:

The local corrective structure to the downside has been completed at the level of 155, so the best strategy to trade the Ethereum now is to buy the pull-back on the way up as the wave B is unfolding. The target is seen at the technical resistance zone between the levels of 165- 166.