Crypto Contest January 16: Decred
Decred has broken out of the wedge pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Decred started a five wave impulsive move on December 28, 2016. The five wave advance finished on January 13, and the currency is currently in the abc -correction which could continue little lower still. After the correction is finished, Decred could start a larger degree wave three advance.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Decred.
If you think this analysis is correct, upvote this post and upvote the comment "Decred will takeout the October 6, 2016 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Decred will drop below the December 28, 2016 low".
If you think Decred is in a range, upvote this post and upvote the comment "Decred will stay in a trading range between the December 28 low and the October 6, 2016 peak until February 13".
You can upvote the comment until 3 PM EST January 17 and you can upvote only one comment. 200% of Steem (2 X 0.243 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Decred will stay in a trading range between the December 28 low and the October 6, 2016 peak until February 13 (8 voters as of 3 PM EST January 17: inertia, bleujay, twinner, spinbunny, yefet, anotherjoe, jphenderson, tamersameeh X 2).
Decred will takeout the October 6, 2016 peak (20 voters as of 3 PM EST January 17: otisbrown, daveks, majes, nextgen622, landofcrypto, bidnat, wingz, digit, rxhector, idnit, jdbry, grildrig, soundmoney, idnit1, idnit9, steemradio, mrfoot, tamersameeh X 2, legends, angels).
You won.
Decred will drop below the December 28, 2016 low (2 voters as of 3 PM EST January 17: me-tarzan, gregory-f).
This post has been ranked within the top 50 most undervalued posts in the first half of Jan 16. We estimate that this post is undervalued by $6.09 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jan 16 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
Thank you for posting and giving Steemians a heads up with regard to these things @maarnio.
Appreciate the winnings....thank you.
Thank you bleujay. It is a good day to be a Steemian today.
Thank you for your reply @maarnio. Indeed it is....just had a look due to your cryptic message. :)
Good article. I was about to post a similair thread. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. Does anyone know about: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check: https://www.coincheckup.com/coins/Decred#analysis For a complete Decred Research report