Crypto Contest January 22: Loopring
Loopring (Binance: LRCBTC) 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, Loopring began a wave one advance in September 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in April 2018, and the red wave two (blue sub-waves a-b-c) correction ended in November 2018. If this wave count is correct, Loopring should be heading next towards the April 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
You can see the wave count even better in the line chart.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Loopring is a protocol for building decentralized exchanges. Crypto Zombie interviewed the CEO last summer.
(Sources: Loopring and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loopring will takeout the July 17, 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loopring will drop below the November 2018 low".
If you think Loopring is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loopring will stay in a trading range between the November 2018 low and the July 17, 2018 peak until February 26".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 25 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).
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Published by Maarnio
on
Loopring will stay in a trading range between the November 2018 low and the July 17, 2018 peak until February 26 (19 voters as of 3 PM EST January 25: bleujay, bentleycapital, diana.feuerberg, abh12345, mellofello, gregory-f, crokkon, allyouneedtoknow, reconnectnature, tzap90, diogosantos, steem-d-anlovnit, mitrado, harryp3, mgood, utkarshvarma, richard78624, simonjay, fullcoverbetting).
You won. Paid out from @maarnio1
Loopring will drop below the November 2018 low (7 voters as of 3 PM EST January 25: sqlinsix, freiheit50, skepticology, vicspics, barbadosso, galasek, kunschj).
Loopring will takeout the July 17, 2018 peak (5 voters as of 3 PM EST January 25: steemquestions, steemit.nemesis, ace108, toofasteddie, sporttr).
That´s a really nice spike, which means a correction is coming!
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