Crypto Contest October 16: Syndicate

Syndicate (SYNXBTC) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Syndicate began a wave one advance in December 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in July 2017, and the red wave two (blue sub-waves a-b-c) correction ended in September this year. If this wave count is correct, Syndicate should be heading next towards the July 2017 peak in the red wave three.

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

Funnymentals

Syndicate is a Proof-Of-Stake coin with masternodes. CryptoDave published a how-to-stake video earlier this year.

(Sources: http://www.synx.online/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Syndicate will takeout the April 2018 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Syndicate will drop below the December 2016 low".

If you think Syndicate is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Syndicate will stay in a trading range between the December 2016 low and the April 2018 peak until November 20".

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

You can upvote the comment until 3 PM EST October 19 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.