Crypto Contest October 24: Bitcoin
Bitcoin (BTCUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Bitcoin began a wave one advance in January 2015. The red wave one finished in June 2016, and the red wave two correction ended in August 2016. The red wave three advance finished in December 2017, and the red wave four correction ended in June this year. If this wave count is correct, Bitcoin should be heading next towards the December 2017 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the monthly chart, I believe Bitcoin is currently in the red wave three (blue sub-wave v). The red wave three began in January 2015.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Altcoin Buzz brings the latest Bitcoin news from Tuesday.
(Sources: https://bitcoin.org/en/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitcoin will takeout the July peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitcoin will drop below the June low".
If you think Bitcoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bitcoin will stay in a trading range between the June low and the July peak until November 28".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST October 27 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).
Bonus 1
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.
Bonus 2
Upvote the right comment and the main post with at least $0.10 and you will get 3 x the winning prize.
Bitcoin will takeout the July peak (14 voters as of 3 PM EST October 27: bleujay, freiheit50, bentleycapital, allyouneedtoknow, mellofello, diana.feuerberg, kunschj, steemit.nemesis, starline, diogosantos, reconnectnature, lucasgabd, fullcoverbetting, nzl19500).
Lets go... 8)
100% Upvote for Bitcoin rising :-)
I think this is the first time I have voted that it will take out a peak. Go go BTC!
Bitcoin will stay in a trading range between the June low and the July peak until November 28 (13 voters as of 3 PM EST October 27: gregory-f, skepticology, camdor, crokkon, simonjay, ace108, toofasteddie, revelationquotes, steem-d-anlovnit, mgood, tzap90, galasek, richard78624).
Bitcoin will stay in a trading range between the June low and the July peak until November 28
Posted using Partiko iOS
Bitcoin will drop below the June low (5 voters as of 3 PM EST October 27: sqlinsix, barbadosso, vicspics, mirda, mitrado).
You won. Paid out from @maarnio1
The struggle continues, but I have to say that it seems like the FUD is going away everytime this small movements happen. Indeed BTC is not going crazy up, but I think this breakouts mean something bigger.
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