Crypto Contest December 25: Chainlink
Chainlink (Binance: LINKBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Chainlink began a wave one advance on July 24. The red wave one finished on August 22, and the red wave two correction ended on September 5. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on November 15, and the red wave four (blue sub-waves a-b-c) correction ended on December 7. If this wave count is correct, Chainlink should be heading next towards the November 15 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Chainlink is currently in the red wave three (blue sub-wave i). The red wave three began on July 24.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain. Sergey Nazarov, CEO of Chainlink, gave a presentation about the project on October 30.
(Sources: https://chain.link/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Chainlink will takeout the November 15 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Chainlink will drop below the December 7 low".
If you think Chainlink is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Chainlink will stay in a trading range between the December 7 low and the November 15 peak until January 29, 2019".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST December 28 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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Chainlink will stay in a trading range between the December 7 low and the November 15 peak until January 29, 2019 (12 voters as of 3 PM EST December 28: bentleycapital, mellofello, martusamak, allyouneedtoknow, toofasteddie, kunschj, reconnectnature, steem-d-anlovnit, diogosantos, jznsamuel, fullcoverbetting, simonjay).
Chainlink will takeout the November 15 peak (8 voters as of 3 PM EST December 28: diana.feuerberg, gregory-f, steemit.nemesis, votum, barbadosso, lydon.sipe, ace108, sporttr).
You won. Paid out from @maarnio1
Chainlink will drop below the December 7 low (5 voters as of 3 PM EST December 28: sqlinsix, freiheit50, vicspics, galasek, mgood).
I'm a little bit late, but Merry Christmas!! :D (once again)
Thank you Diogo.
Merry Christmas.
Hi @maarnio!
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