Crypto Contest November 13: Ark

Ark (ARKUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, Ark began a wave one advance on March 21. The red wave one finished on June 7, and the red wave two correction ended on July 16. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on September 14, and the red wave four correction ended on November 2. If this wave count is correct, Ark should be heading next towards the September 14 peak in the red wave five.

(Chart courtesy of Tradingview.com)

Zooming in the four-hour chart, I believe Ark is currently in the red wave three (blue sub-wave iii). The red wave one began on November 2.

(Chart courtesy of Tradingview.com)

Funnymentals

Here is a short introduction video of ARK - SmartBridge Technology.

(Source: https://ark.io/)

If you think this analysis is correct, upvote this post and upvote the comment "Ark will takeout the September 14 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Ark will drop below the November 2 low".

If you think Ark is in a range, upvote this post and upvote the comment "Ark will stay in a trading range between the November 2 low and the September 14 peak until December 14".

You can upvote the comment until 3 PM EST November 14 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).