Crypto Contest July 19: BlackCoin
BlackCoin (BLKUSD) 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, BlackCoin began a wave one advance in April 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on June 30. If this wave count is correct, BlackCoin should be heading next towards the January 7 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the monthly chart, I believe BlackCoin is currently in the red wave three (blue sub-wave iii). The red wave three began in April 2015.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
BlackCoin is a Proof of Stake coin since 2014. Follow The Coin brings you the very basics in this video published in May 2014.
(Sources: https://blackcoin.org/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will takeout the May 5 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will drop below the June 30 low".
If you think BlackCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "BlackCoin will stay in a trading range between the June 30 low and the May 5 peak until August 23".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST July 22 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).
Bonus
I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.
BlackCoin will drop below the June 30 low (16 voters as of 3 PM EST July 22: bleujay, sqlinsix, bentleycapital, novus-locus, vicspics, koskl, allyouneedtoknow, kunschj, milano1113, tzap90, mgood, themovieplace, criptorafa, askeb, nzl19500, ragnaros).
You won. Paid out from @maarnio1
BlackCoin will stay in a trading range between the June 30 low and the May 5 peak until August 23 (31 voters as of 3 PM EST July 22: gregory-f, skepticology, revelationquotes, glennolua, soundmoney, abh12345, simonjay, kanoe, misalen, jznsamuel, toofasteddie, steemit.nemesis, crokkon, starline, cryptotem, reconnectnature, rothberg, lucasgabd, steem-d-anlovnit, nicolaepavelean, mirda, komischername, mitrado, fullcoverbetting, catchup, galasek, richard78624, harryp3, coolthings, costanza, andy23).
BlackCoin will takeout the May 5 peak (14 voters as of 3 PM EST July 22: lydon.sipe, ace108, freiheit50, fitinfun, bxlphabet, positivebalances, barbadosso, diogosantos, karadere, mihail.tsvetkov, beiker, portillo, nordina, sporttr).
I don´t know much about this coin, but I really like their logo, looks like a BTC vintage :D
But I would say this is one of the first coins since a long time that I believe will be able to take out the May 5 peak (needs to go 100% up).
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Click on the badge to view your Board of Honor.
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STOPDo not miss the last post from @steemitboard:
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