Crypto Contest November 3: Syndicate

Syndicate (SYNXUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, Syndicate began a wave one advance on December 29, 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 14 this year, and the red wave two (blue sub-waves a-b-c) correction ended on September 15. If this wave count is correct, Syndicate should be heading next towards the July 14 peak in the red wave three.

(Chart courtesy of Tradingview.com (log scale))

Zooming in the four-hour chart, I believe Syndicate is currently in the red wave three (blue sub-wave iii). The red wave one began on September 15.

(Chart courtesy of Tradingview.com)

Funnymentals

There will be a SYNX snapshot in 5 days.

(Source: http://www.gravitycoin.tech/)

If you think this analysis is correct, upvote this post and upvote the comment "Syndicate will takeout the July 14 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Syndicate will drop below the September 15 low".

If you think Syndicate is in a range, upvote this post and upvote the comment "Syndicate will stay in a trading range between the September 15 low and the July 14 peak until December 4".

You can upvote the comment until 3 PM EST November 4 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).