Crypto Contest July 28: Bitcoin
Bitcoin has broken out of the flag pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Bitcoin began a wave one advance on July 16. The wave one finished on July 19, and the wave two correction ended later on the same day. The wave three advance finished on July 20, and the wave four correction ended on July 26. If this wave count is correct, Bitcoin should be heading next towards the July 20 peak in the wave five.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the July 20 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the July 19 low".
If you think Bitcoin is in a range, upvote this post and upvote the comment "Bitcoin will stay in a trading range between the July 19 low and the July 20 peak until August 28".
You can upvote the comment until 3 PM EST July 29 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.
Bitcoin will takeout the July 20 peak (32 voters as of 3 PM EST July 29: bleujay, freiheit50, otisbrown, gregory-f, yefet, simonjay, lydon.sipe, ahinga, steemit.nemesis, skririm, rhino, flemingfarm, komischername, ameis, architrader, coolthings, jznsamuel, point, eirik, miniature-tiger, psilacetin, mprgrmmr, abh12345, carlosdaniel, razorwave8, lakov, outtayourbox, cobalus, mela, d-matteo, freskil, me-do).
When all the hard fork panic is over and the fees are so much lower... I think it will definitely go up and take a lot altcoins with him to the sky (and beyond)! Love your daily posts! Keep up the good work!
Thank you Martha. BitcoinPlus is already following this script.
You won.
Bitcoin will stay in a trading range between the July 19 low and the July 20 peak until August 28 (8 voters as of 3 PM EST July 29: twinner, me-tarzan, mirda, libert, napkin, andy23, yinyangboobookat, vermute).
Bitcoin will drop below the July 19 low (10 voters as of 3 PM EST July 29: soundmoney, spinbunny, osmanbugra, starline, damla, tzap90, anetchen, c-c-c, ragnaros, lig007).
Bitcoin will takeout the July 20 peak
It will takeout the July 20, and by the end of the year it will go above 4000 ;)
It is possible. This could be just wave one in the bigger picture.
This post has been ranked within the top 80 most undervalued posts in the first half of Jul 28. We estimate that this post is undervalued by $10.57 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jul 28 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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How about after August 28, what happen to bitcoin?
It will continue to fluctuate.