Crypto Contest August 12: Komodo

Komodo has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

In Elliott Wave terms, Komodo began a wave one advance on March 13. The wave one finished on May 4, and the wave two correction ended on May 11. The wave three advance finished on June 18, and the wave four correction ended on August 8. If this wave count is correct, Komodo should be heading next towards the June 18 peak in the wave five.

(Chart courtesy of Tradingview.com)

If you think this analysis is correct, upvote this post and upvote the comment "Komodo will takeout the June 18 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Komodo will drop below the May 11 low".

If you think Komodo is in a range, upvote this post and upvote the comment "Komodo will stay in a trading range between the May 11 low and the June 18 peak until September 12".

You can upvote the comment until 3 PM EST August 13 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.