Crypto Contest November 3: BitCrystals
BitCrystals has broken the trend line drawn from the October 26 peak.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe BitCrystals has completed one cycle from the June 21 low. The five wave advance finished on the September 12, and the three wave correction ended on the November 1. If this wave count is correct BitCrystals should be heading next towards the September 12 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, BitCrystals is currently most likely in the wave three (sub-wave iii). The wave one started in the September 2015, and finished in the March 2016. The wave two correction ended on the June 21.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long BitCrystals.
If you think this analysis is correct, upvote this post and upvote the comment "BitCrystals will takeout the October 26 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "BitCrystals will drop below the November 1 low".
You can upvote the comment until 3 PM EST November 4 and you can upvote only one comment. 100% of Steem (10.702 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
BitCrystals will drop below the November 1 low (7 voters as of 3 PM EST November 4: jamesbrown, twinner, anotherjoe, dahaz159, inertia, fortinbuff, escapeamericanow). Avarice did not vote the main post.
I don't think the analysis is wrong but depending on bitcoins continuing rise it might drop, but not lower in dollar value than the November 1 low is my guess. :)
Please remember to vote the first comment.
Alright just note that I have a curation trail so it might get a bit spammy. :P
You won.
BitCrystals will takeout the October 26 peak (15 voters as of 3 PM EST November 4: bleujay, smooth-e, majes, acidyo, inertia, mrgreen, yefet, idnit, getssidetracked, digit, jdbry, glenyven23, cryptochannel, trees, strawhat).