Crypto Contest March 24: HitChain

in blockchain •  25 days ago

HitChain (Huobi: HITUSDT) 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, HitChain began a wave one advance on December 8, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 24, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on February 7 this year. If this wave count is correct, HitChain should be heading next towards the December 24, 2018 peak in the red wave three.

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

Funnymentals

HitChain hopes to surpass GitHub as the largest open-source platform by applying blockchain technology for a more dynamic, democratic, and autonomous open-source ecosystem. You can check their latest project report here.

(Sources: HitChain and Medium)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "HitChain will takeout the December 2018 peak".

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

If you think HitChain is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "HitChain will stay in a trading range between the December 2018 low and the December 2018 peak until April 28".

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

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Published by Maarnio
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HitChain will stay in a trading range between the December 2018 low and the December 2018 peak until April 28 (15 voters as of 3 PM EST March 27: bentleycapital, abh12345, mellofello, allyouneedtoknow, soundmoney, toofasteddie, vicspics, kunschj, positivebalances, steem-d-anlovnit, diogosantos, jznsamuel, simonjay, mitrado, richard78624).

HitChain will takeout the December 2018 peak (8 voters as of 3 PM EST March 27: diana.feuerberg, steemit.nemesis, reconnectnature, crokkon, lydon.sipe, ace108, galasek, mgood).

HitChain will drop below the December 2018 low (4 voters as of 3 PM EST March 27: freiheit50, barbadosso, skepticology, sporttr).

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