Crypto Contest November 6: ArtByte

ArtByte (ABYUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, ArtByte began a wave one advance in February 2016. The red wave one finished in July 2016, and the red wave two correction ended in December 2016. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on August 6 this year, and the red wave four correction ended on September 15. If this wave count is correct, ArtByte should be heading next towards the August 6 peak in the red wave five.

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

Zooming in the four-hour chart, I believe ArtByte is currently in the red wave three. The red wave one began on September 15.

(Chart courtesy of Tradingview.com)

Funnymentals

ArtBytes is an artist coin. Here is a brief introduction to the coin:

Using the emerging technology of digital currencies, it is the person to person way to support artists. ArtBytes can be given to any artist, anywhere in the world (musicians, actors, film makers, directors, editors, producers, dancers, painters, sculptors, writers, photographers, designers, models, production team, all kind of artists).

(Source: https://www.artbyte.me/)

If you think this analysis is correct, upvote this post and upvote the comment "ArtBytes will takeout the August 6 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "ArtBytes will drop below the September 15 low".

If you think ArtBytes is in a range, upvote this post and upvote the comment "ArtBytes will stay in a trading range between the September 15 low and the August 6 peak until December 7".

You can upvote the comment until 3 PM EST November 7 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).