Crypto Contest May 29: IOST
IOST (IOSTBTC) 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, IOST began a wave one advance on March 18. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on May 10, and the red wave two (blue sub-waves a-b-c) correction ended on May 23. If this wave count is correct, IOST should be heading next towards the May 10 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Internet of Services (IOS) offers a secure & scalable infrastructure for online service providers. Cryptolite interviewed the CEO earlier this month.
(Sources: https://iost.io/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "IOST will takeout the May 10 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "IOST will drop below the March 18 low".
If you think IOST is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "IOST will stay in a trading range between the March 18 low and the May 10 peak until July 4".
You can upvote the comment until 3 PM EST June 1 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.
IOST will stay in a trading range between the March 18 low and the May 10 peak until July 4 (48 voters as of 3 PM EST June 1: bleujay, gregory-f, bentleycapital, soundmoney, simonjay, sukhothai, allyouneedtoknow, misalen, rothberg, revelationquotes, steem-d-anlovnit, janine-ariane, flemingfarm, reconnectnature, cryptotem, lucasgabd, starline, toofasteddie, koskl, diogosantos, nicolaepavelean, mirda, catchup, costanza, richard78624, portillo, karadere, coolthings, utkarshvarma, mike11, nordina, ragnaros, amity123, galasek, andy23, mihail.tsvetkov, marverick984, mitrado, biomanu, photoquote, pario, techlife, punjolife, easymoney202, neo-wiza, chotho, sljivanono, photo-moment).
IOST will drop below the March 18 low (11 voters as of 3 PM EST June 1: sqlinsix, glennolua, skepticology, mgood, vicspics, komischername, jznsamuel, mister.green, spyking, barbadosso, sporttr).
IOST will takeout the May 10 peak (11 voters as of 3 PM EST June 1: lydon.sipe, ace108, bxlphabet, fitinfun, steemit.nemesis, crokkon, kunschj, carlosdaniel, cosminblaga, stalexmkl, nzl19500).