Crypto Contest November 23: Burstcoin
Burstcoin has broken out of the daily wedge pattern.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Burstcoin has completed waves one and two in the daily chart. The wave one started on the June 19 and finished on the September 13. The wave two correction ended on the November 20. If this wave count is correct, Burstcoin should be heading next towards the September 13 peak in the wave three.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Burstcoin is currently most likely in the wave three (sub-wave iii). The wave one started in the November 2015, and finished in the April 2016. The wave two correction ended on the June 19.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Burstcoin.
If you think this analysis is correct, upvote this post and upvote the comment "Burstcoin will takeout the September 13 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Burstcoin will drop below the November 20 low".
You can upvote the comment until 3 PM EST November 24 and you can upvote only one comment. 100% of Steem (12.417 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
Burstcoin will drop below the November 20 low (10 voters as of 3 PM EST November 24: yefet, twinner, gregory-f, landofcrypto, jamesbrown, anotherjoe, wingz, inertia, fortinbuff, escapeamericanow).
Burstcoin will drop below the November 20 low
Burstcoin will takeout the September 13 peak (10 voters as of 3 PM EST November 24: bleujay, majes, idnit, jdbry, digit, feelinggood, idnit1, mistere, mrfoot, beers).
This post has been ranked within the top 80 most undervalued posts in the first half of Nov 23. We estimate that this post is undervalued by $4.34 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 23 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Just a suggestion for the future, if possible could you put down the current price and the prices of the low / high? - it can be pretty difficult to see from the chart without expanding out. :)
I encourage you to check the prices at Tradingview:
https://www.tradingview.com/chart/nswQyupT/
Thank you for posting @maarnio.
Appreciate the opportunity to participate and thank you for the winnings.
All the best. Cheers.
Thank you bleujay.
Burstcoin will drop below the November 20 low
Please vote my comment: "Burstcoin will drop below the November 20 low."