Crypto Contest May 23: Belacoin

Belacoin has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

In Elliott Wave terms, Belacoin began a wave one advance in January 2016. The wave one finished in March 2016, and the wave two correction ended in June 2016. The wave three advance finished on April 8 this year, and the wave four correction ended on May 2. If this wave count is correct, Belacoin should be heading next towards the April 8 peak in the wave five.

(Chart courtesy of Tradingview.com)

If you think this analysis is correct, upvote this post and upvote the comment "Belacoin will takeout the April 8 peak".

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

If you think Belacoin is in a range, upvote this post and upvote the comment "Belacoin will stay in a trading range between the May 2 low and the April 8 peak until June 18".

You can upvote the comment until 3 PM EST May 24 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). Only participants with a Reputation of 35 or more will qualify in the contest.