Crypto Contest January 20: Basic Attention Token
Basic Attention Token (BATUSD) 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, BAT began a wave one advance on November 12, 2017. The red wave one finished on November 16, 2017, and the red wave two correction ended on November 30, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 9 this year, and the red wave four (blue sub-waves a-b-c) correction ended on January 17. If this wave count is correct, BAT should be heading next towards the January 9 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
In the weekly chart, BAT is most likely in the red wave three. The red wave three began on November 12, 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Basic Attention Token is the "new" token for the digital advertising industry. Here is an one hour interview with Brendan Eich, Founder of BAT, and Boxmining.
(Sources: https://basicattentiontoken.org/ and YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "BAT will takeout the January 9 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "BAT will drop below the November 30, 2017 low".
If you think BAT is in a range, upvote this post and upvote the comment "BAT will stay in a trading range between the November 30, 2017 low and the January 9 peak until February 20".
You can upvote the comment until 3 PM EST January 21 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 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.
BAT will stay in a trading range between the November 30, 2017 low and the January 9 peak until February 20 (30 voters as of 3 PM EST January 21: bleujay, bentleycapital, freiheit50, simonjay, twinner, mgood, catena, miniature-tiger, flemingfarm, coolthings, cryptotem, ahinga, mirda, me-do, yefet, richard78624, andy23, photo-moment, freskil, tzap90, portillo, nordina, mushroombadger, heidelbaer, amfid4846, acehnature, maverick0524, kulate, anjelik, biyanoor).
Oh, I pressed twice by accident. Comments moving about when you upvote them!
My first guess was stay in a range and that's the one I want to stick with.
Sorry!
Thanks. I believe you can unvote the other comment also.
Ah yes. Commenting before morning coffee. Never the best idea!
I believe my choice is right on target.
You won.
BAT will takeout the January 9 peak (25 voters as of 3 PM EST January 21: steemquestions, fitinfun, allyouneedtoknow, glennolua, eirik, crokkon, digitalking, gregory-f, dirty.hera, jznsamuel, toofasteddie, lucasgabd, reconnectnature, koskl, ragnaros, mihail.tsvetkov, libert, plumygg, diogosantos, nafazul, notanengenier, cata22, sevinwilson, acehnature, utkarshvarma).
BAT will drop below the November 30, 2017 low (10 voters as of 3 PM EST January 21: sqlinsix, dlina-v-metrah, starline, neo-wiza, cassidyandfranks, gunsmithing, barbadosso, karadere, steemit-up, liberton).
If it drops between 3600-3750/btc, I'm buying in!
I might add if we get there.
Bull flag target matches the $.82. Don't expect this to happen without the rest of the markets rallying, as well, but the BAT is set up in a way that would allow the potentially higher upside, it appears.
Thanks Mr. Hunt.
Please remember to vote the right comment.