Crypto Contest March 28: BitSend

in #blockchain5 years ago (edited)

BitSend (Bittrex: BSDUSD) has broken out of the triangle pattern in the weekly chart.

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

Elliott Wave Analysis

In Elliott Wave terms, BitSend began a wave one advance in February 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended on March 4 this year. If this wave count is correct, BitSend should be heading next towards the January 2018 peak in the red wave three.

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

Funnymentals

BitSend is digital cash with masternodes. You can view the masternode stats below.

(Sources: BitSend and Masternode)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will takeout the October 29, 2018 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will drop below the March 4, 2019 low".

If you think BitSend is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "BitSend will stay in a trading range between the March 4, 2019 low and the October 29, 2018 peak until May 2".

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

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Published by Maarnio
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https://mentormarket.io/cryptocurrencies/maarnio/crypto-contest-march-28-bitsend/

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BitSend will stay in a trading range between the March 4, 2019 low and the October 29, 2018 peak until May 2 (21 voters as of 3 PM EST March 31: bleujay, bentleycapital, gregory-f, mellofello, abh12345, toofasteddie, allyouneedtoknow, harryp3, positivebalances, reconnectnature, utkarshvarma, kunschj, crokkon, steem-d-anlovnit, diogosantos, fullcoverbetting, jznsamuel, simonjay, richard78624, novus-locus, jmehta).

You won. Paid out from @maarnio1

BitSend will drop below the March 4, 2019 low (9 voters as of 3 PM EST March 31: freiheit50, sqlinsix, diana.feuerberg, barbadosso, skepticology, vicspics, mitrado, mgood, sporttr).

BitSend will takeout the October 29, 2018 peak (3 voters as of 3 PM EST March 31: steemit.nemesis, ace108, galasek).

@maarnio, We are watching Triangles in these charts. I am not an chart enthusiast nor an expert but fun to watch the Triangular shapes of the trends.

Posted using Partiko Android

Yep. They can be powerful patterns.

👍

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