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Crypto Industry News:
Symantec, an American company dealing with software security, came across a leap in the use of new malicious cryptographic software, which is mainly targeted at enterprises.
The new malware, called Beapy, uses hacker tools that leaked from the US National Security Agency (NSA) to spread in corporate networks to generate large sums of money from a large number of computers.
For the first time noticed in January 2019, Beapy reportedly grew to over 12,000 cases of infection in 732 organizations, with over 80% of infections taking place in China.
As researchers have discovered, Beapy's malware is reportedly distributed via e-mail. Once opened, the malware leaves the NSA DoublePulsar developed and uses the EternalBlue NSA exploit - the same exploits that helped spread WannaCry ransomware in 2017. According to the report, Beapy also uses Mimikatz, a tool to collect open source credentials to collect and use passwords from infected computers to navigate the network.
Technical Market Overview:
The corrective cycle in wave 2 on the ETH/USD market has been unfolding longer than expected and now there is a full grown corrective structure at the H4 timeframe chart. The corrective formation would then be an ABC Irregular Flat correction. The top for the wave b was made at the level of 177.13 and the bottom for the wave c might have been made at the level of 147.40, after the recent drop. Please notice, the recent wave down has been made in three waves so far and this might indicate one more wave to the downside before the whole corrective structure is completed.
Weekly Pivot Points:
WR3 - 198.18
WR2 - 186.32
WR1 - 175.54
Weekly Pivot - 163.96
WS1 - 153.36
WS2 - 141.23
WS3 - 129.71
Trading recommendations:
The recent move down in wave C of the correction has surprised the market participants and all the buy setups have been invalidated. Currently, the best strategy is to buy the dips and local pull-back during the corrective cycle as the larget timeframe trend remains up. Moreover, any breakout above the level of 166.53 will be considered bullish as well.
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