Crypto Contest November 15: Bitcoin
Bitcoin (BTCUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, Bitcoin began a wave one advance on July 16. The red wave one finished on September 2, and the red wave two correction ended on September 15. The red wave three advance finished on November 8, and the red wave four correction ended on November 12. If this wave count is correct, Bitcoin should be heading next towards the November 8 peak in the red wave five.
(Chart courtesy of Tradingview.com)
In the weekly chart, I believe Bitcoin is currently in the red wave three (blue sub-wave v). The red wave one began in January 2015.
(Chart courtesy of Tradingview.com)
The monthly chart looks like Bitcoin is in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
No introduction needed here.
If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the November 8 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the November 12 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 November 12 low and the November 8 peak until December 16".
You can upvote the comment until 3 PM EST November 16 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).
Bitcoin will stay in a trading range between the November 12 low and the November 8 peak until December 16 (14 voters as of 3 PM EST November 16: helikopterben, otisbrown, twinner, starline, lasper, mehdibca, allmonitors, andy23, c-c-c, amfid4846, youssef0202, margaritaradkova, nikossa1908, koskl).
What source will you be using to asses the value of BTC. On coinmarketcap the peak seems to be around 7707 USD
BitStamp as can be seen in the chart.
I think bitcoin will stay in a trading range between November 8 peak and the November 12 low
Bitcoin will takeout the November 8 peak (34 voters as of 3 PM EST November 16: bleujay, cryptotem, bentleycapital, eirik, lydon.sipe, flemingfarm, me-tarzan, simonjay, lucasgabd, reconnectnature, dirty.hera, psywalker, crokkon, gregory-f, skririm, toofasteddie, glennolua, jznsamuel, criptorafa, mprgrmmr, anetchen, komischername, mirda, digitalking, ahinga, cassidyandfranks, me-do, carlosdaniel, richard78624, mihail.tsvetkov, ragnaros, heidelbaer, elisablogs, m3rcos1ty).
Most easy prediction ever ;)
This one is for sure! :P
You won.
Bitcoin will drop below the November 12 low (7 voters as of 3 PM EST November 16: miniature-tiger, catena, tzap90, kunschj, coolthings, gunsmithing, razorwave8).
Good coin to ponder. It's definitely fun to watch!
I think bitcoin can stay over $8000 in at the end of this November. @maarnio
why to upvote if I m not agree :-)
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the November 12 low".
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