Crypto Contest November 7: Bitcoin
Bitcoin is trying to break out of the triangle pattern in the two-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Bitcoin is just starting the wave five from the September 21 low. The wave one finished on the October 15, and the wave two correction ended on the October 19. The wave three advance finished on the November 3, and the wave four correction ended on the same day. If this wave count is correct, Bitcoin should be heading next towards the November 3 peak.
(Chart courtesy of Tradingview.com)
Zooming out in the daily chart, Bitcoin is currently most likely in the wave three (sub-wave iii). The wave one started on the August 2, and finished on the August 10. The wave two correction ended on the August 15.
(Chart courtesy of Tradingview.com)
In the weekly chart, I believe Bitcoin has completed waves one and two. The wave one started in the January 2015, and finished in the June 2016. The wave two correction ended on the August 2.
(Chart courtesy of Tradingview.com)
In the monthly chart, Bitcoin is currently most likely in the wave three (sub-wave iii). The wave one ended in the November 2013, and the wave two correction finished in the January 2015.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Bitcoin.
If you think this analysis is correct, upvote this post and upvote the comment "Bitcoin will takeout the November 3 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitcoin will drop below the November 3 low".
You can upvote the comment until 3 PM EST November 8 and you can upvote only one comment. 100% of Steem (18.765 STEEM) 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 takeout the November 3 peak (18 voters as of 3 PM EST November 8: me-tarzan, bleujay, twinner, majes, stranger27, bitcoiner, jamesbrown, anotherjoe, whatageek, yefet, bradenford, soundmoney, idnit, digit, jdbry, smysullivan, fortinbuff, escapeamericanow).
Totally agree with you! Resteemed
So far so good.
You won.
Hello @maarnio,
It gives us pleasure to inform you that this post have been upvoted by Project Better.
The Mission of Project Better is to reward posts have many votes from Minnows but earn pennies.
Your payout is $0.035 before we vote on your post.
Learn more about the Project Better here! ,
Want to donate your voting power to support Project Better and earn curation rewards? Click Here!
We hope to see you continuing to post some great stuff on Steemit!
Good luck!
~BETTER~
Thank you Project Better, I feel better already.
Bitcoin will drop below the November 3 low (1 voter as of 3 PM EST November 8: ericlehrer).
Thanks maarnio for the update and upvoted back
Thanks simon, Don't forget to cast your contest vote in the comments.
Vote I say down
Then please vote my comment: "Bitcoin will drop below the November 3 low."
If you're right, and it's 3/3, we're in for quite a ride.
Yes. I am assuming you are talking about the monthly chart.
Yep :)
This post has been linked to from another place on Steem.
Learn more about and upvote to support linkback bot v0.5. Flag this comment if you don't want the bot to continue posting linkbacks for your posts.
Built by @ontofractal