Crypto Contest March 25: SpaceChain
SpaceChain (Bittrex: SPCBTC) 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, SpaceChain began a wave one advance on January 14. The red wave one finished on January 30, and the red wave two correction ended on February 13. The red wave three advance finished on February 26, and the red wave four correction ended on March 22. If this wave count is correct, SpaceChain should be heading next towards the February 26 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
One can see the wave count even better in the line chart.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
SpaceChain is a community-based space platform that combines space and blockchain technologies to build an open-source blockchain-based satellite network, allowing users to develop and run decentralized applications in space. SpaceChain has already sent the first nodes to space.
(Sources: SpaceChain and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "SpaceChain will takeout the February peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "SpaceChain will drop below the January low".
If you think SpaceChain is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "SpaceChain will stay in a trading range between the January low and the February peak until April 29".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST March 28 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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SpaceChain will takeout the February peak (8 voters as of 3 PM EST March 28: bleujay, bentleycapital, diana.feuerberg, steemit.nemesis, toofasteddie, lydon.sipe, galasek, simonjay).
SpaceChain will stay in a trading range between the January low and the February peak until April 29 (15 voters as of 3 PM EST March 28: freiheit50, gregory-f, mellofello, skepticology, allyouneedtoknow, reconnectnature, kunschj, positivebalances, steem-d-anlovnit, ace108, diogosantos, harryp3, mitrado, jznsamuel, richard78624).
You won. Paid out from @maarnio1
SpaceChain will drop below the January low (4 voters as of 3 PM EST March 28: barbadosso, vicspics, sporttr, mgood).
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