Crypto Contest November 13: Bitmark
Bitmark has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Bitmark has completed one cycle from the May 18 low. The five wave advance finished on the September 24, and the three wave correction ended on the October 29. If this wave count is correct, Bitmark should be heading next towards the September 24 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Bitmark is currently most likely in the wave three (sub-wave iii). The wave one started in January, and finished in March. The wave two correction ended on the May 18.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Bitmark.
If you think this analysis is correct, upvote this post and upvote the comment "Bitmark will takeout the October 7 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bitmark will drop below the October 29 low".
You can upvote the comment until 3 PM EST November 14 and you can upvote only one comment. 100% of Steem (8.845 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Bitmark will drop below the October 29 low (5 voters as of 3 PM EST November 14: me-tarzan, bleujay, yefet, gregory-f, jamesbrown). Duckbutter did not vote the main post.
You won.
Bitmark will takeout the October 7 peak (7 voters as of 3 PM EST November 14: twinner, anotherjoe, inertia, inphiknit, michaelcorleone, fortinbuff, escapeamericanow).
This post has been ranked within the top 80 most undervalued posts in the second half of Nov 13. We estimate that this post is undervalued by $6.34 as compared to a scenario in which every voter had an equal say.
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