Crypto Contest January 13: BitShares
BitShares has broken out of the wedge pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe BitShares is currently in the wave four in the one-hour chart. The wave one began on January 5, and finished on January 6. The wave two correction ended on January 7, and the wave three advance finished on January 12. The wave four correction could still last for one to two days before the wave five advance.
(Chart courtesy of Tradingview.com)
Looking at the two-hour chart, BitShares is most likely in the wave three (sub-wave iv). The wave one started on January 4, and finished on January 5. The wave two correction ended on January 5 at 0.0000035300. If this wave count is correct, BitShares should be heading towards the November 13, 2016 peak in the coming weeks.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long BitShares.
If you think this analysis is correct, upvote this post and upvote the comment "BitShares will takeout the November 13, 2016 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "BitShares will drop below the January 4 low".
If you think BitShares is in a range, upvote this post and upvote the comment "BitShares will stay in a trading range between the January 4 low and the November 13, 2016 peak until February 10".
You can upvote the comment until 3 PM EST January 14 and you can upvote only one comment. 200% of Steem (2 X 0.559 STEEM) 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.
BitShares will takeout the November 13, 2016 peak (15 voters as of 3 PM EST January 14: bleujay, daveks, majes, nextgen622, grildrig, digit, idnit, jdbry, idnit1, idnit9, steemradio, mrfoot, tamersameeh, legends, angels).
BitShares will drop below the January 4 low (2 voters as of 3 PM EST January 14: gregory-f, twinner).
BitShares will stay in a trading range between the January 4 low and the November 13, 2016 peak until February 10 (2 voters as of 3 PM EST January 14: yefet, anotherjoe).
You won.
This post has been ranked within the top 50 most undervalued posts in the first half of Jan 13. We estimate that this post is undervalued by $3.47 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jan 13 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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