Crypto Contest May 3: Velas

Velas (Bittrex: VLXUSDT) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com (log scale))

Elliott Wave Analysis

In Elliott Wave terms, VLX began a red wave one advance on December 24, 2020. The red wave one peaked on February 2 this year and the red wave two correction ended on February 24. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on April 1 and the red wave four (blue sub-waves a-b-c) correction ended on April 23. If this wave count is correct, VLX should be heading next towards the April 1 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Funnymentals

Velas is Artificial Intuition-operated DPoS Blockchain and Ecosystem for secure, interoperable, extremely scalable transactions. BitBoy Crypto covered the project four months ago.

(Sources: https://velas.com/)

How Will Velas Trade?

Velas (Bittrex: VLXUSDT) daily chart by Tradingview.

(Chart courtesy of Tradingview.com (log scale))

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

VLX will takeout the April 1 peak

VLX will drop below the February 24 low

VLX will stay in a trading range between the February 24 low and the April 1 peak until June 9