Crypto Contest April 3: Steem

Steem (STEEMBTC) 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, Steem began a wave one advance on December 6, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on February 1 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 18. If this wave count is correct, Steem should be heading next towards the February 1 peak in the red wave three.

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

Looking at the weekly chart, I believe Steem is currently in the red wave three (blue sub-wave iii). The red wave three began on December 6, 2017.

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

Funnymentals

You can follow the latest news/talk about Steem at SteemStar Network.

(Source: YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will takeout the February 1 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will drop below the December 6, 2017 low".

If you think Steem is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Steem will stay in a trading range between the December 6, 2017 low and the February 1 peak until May 9".

You can upvote the comment until 3 PM EST April 6 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.