Crypto Contest March 23: Machine Xchange Coin

in blockchain •  3 months ago  (edited)

Machine Xchange Coin (Huobi: MXCBTC) 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, Machine Xchange Coin began a wave one advance on December 30, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 8 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 22. If this wave count is correct, Machine Xchange Coin should be heading next towards the January peak in the red wave three.

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

Funnymentals

Machine Xchange Coin is inspiring fast, efficient, decentralized data exchanges using LPWAN -blockchain technology. You can find one use case of their technology below.

(Sources: Machine Xchange Coin and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Machine Xchange Coin will takeout the February 2019 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Machine Xchange Coin will drop below the December 2018 low".

If you think Machine Xchange Coin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Machine Xchange Coin will stay in a trading range between the December 2018 low and the February 2019 peak until April 27".

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

You can upvote the comment until 3 PM EST March 26 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

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Sort Order:  
  ·  3 months ago (edited)

Machine Xchange Coin will stay in a trading range between the December 2018 low and the February 2019 peak until April 27 (16 voters as of 3 PM EST March 26: bleujay, gregory-f, abh12345, mellofello, harryp3, soundmoney, toofasteddie, kunschj, positivebalances, ace108, steem-d-anlovnit, diogosantos, jznsamuel, simonjay, richard78624, mgood).

  ·  3 months ago (edited)

Machine Xchange Coin will takeout the February 2019 peak (5 voters as of 3 PM EST March 26: freiheit50, diana.feuerberg, steemit.nemesis, sporttr, themovieplace).

·

You won. Paid out from @maarnio1

  ·  3 months ago (edited)

Machine Xchange Coin will drop below the December 2018 low (8 voters as of 3 PM EST March 26: barbadosso, skepticology, allyouneedtoknow, reconnectnature, vicspics, lydon.sipe, galasek, mitrado).

This is one of those coins that I had no idea existed, although the team and place behind the project make it a little bit more promising.

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