Crypto Contest December 14: Mercury
Mercury (MERBTC) 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, Mercury began a wave one advance on November 18. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on December 3, and the red wave two (blue sub-waves a-b-c) correction ended on December 10. If this wave count is correct, Mercury should be heading next towards the December 3 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
One can see the sub-waves even better in the line chart without any overlapping.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
According to the team:
Mercury is a public token used as fuel to link the private Jupiter blockchain to the public Waves blockchain.
(Source: https://www.darcr.us/products/mercury/)
If you think this analysis is correct, upvote this post and upvote the comment "Mercury will takeout the December 3 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Mercury will drop below the November 18 low".
If you think Mercury is in a range, upvote this post and upvote the comment "Mercury will stay in a trading range between the November 18 low and the December 3 peak until January 14, 2018".
You can upvote the comment until 3 PM EST December 15 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).
Mercury will stay in a trading range between the November 18 low and the December 3 peak until January 14, 2018 (33 voters as of 3 PM EST December 15: helikopterben, freiheit50, twinner, flemingfarm, simonjay, heroic15397, crokkon, ace108, lucasgabd, themovieplace, starline, criptorafa, mgood, mprgrmmr, reconnectnature, komischername, kanoe, jznsamuel, mirda, toofasteddie, richard78624, ragnaros, paul.atreides, me-do, koskl, mihail.tsvetkov, heidelbaer, plumygg, m3rcos1ty, amfid4846, huasipi, margaritaradkova, utkarshvarma).
Mercury is so hot, I prefer earth :-)
Mercury will takeout the December 3 peak (13 voters as of 3 PM EST December 15: bleujay, fitinfun, bentleycapital, gregory-f, digitalking, ahinga, freskil, catena, carlosdaniel, yefet, libert, wallsnow, incrediblesnow).
I'm too late, but I hope Mercury can do it!
Done.
You won.
Mercury will drop below the November 18 low (5 voters as of 3 PM EST December 15: allyouneedtoknow, anetchen, dlina-v-metrah, gunsmithing, boyan85).