Crypto Contest April 9: Bytecoin

Bytecoin (BCNUSD) 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, Bytecoin began a wave one advance in November 2014. The red wave one finished in July 2015, and the red wave two correction ended in November 2015. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 6 this year, and the red wave four (blue sub-waves a-b-c) correction ended on March 18. If this wave count is correct, Bytecoin should be heading next towards the January 6 peak in the red wave five.

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

Funnymentals

Bytecoin is an anonymous egalitarian digital currency based on CryptoNote technology. Mr. Ecomm published a good introduction video to Bytecoin on February 15.

(Sources: https://bytecoin.org/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will takeout the January 6 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will drop below the November 12, 2017 low".

If you think Bytecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Bytecoin will stay in a trading range between the November 12, 2017 low and the January 6 peak until May 15".

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

You can upvote the comment until 3 PM EST April 12 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).

Bonus

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.