Crypto Contest June 4: Bytecoin
Bytecoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Bytecoin began a wave one advance on March 26. The wave one finished on March 28, and the wave two correction ended on April 8. The wave three advance finished on May 21, and the wave four correction ended on May 27. If this wave count is correct, Bytecoin should be heading next towards the May 21 peak in the wave five.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Bytecoin will takeout the May 21 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Bytecoin will drop below the April 8 low".
If you think Bytecoin is in a range, upvote this post and upvote the comment "Bytecoin will stay in a trading range between the April 8 low and the May 21 peak until July 4".
You can upvote the comment until 3 PM EST June 5 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). Only participants with a Reputation of 35 or more will qualify in the contest.
Bytecoin will takeout the May 21 peak.
Bytecoin will takeout the May 21 peak (22 voters as of 3 PM EST June 5: otisbrown, bleujay, gregory-f, simonjay, allyouneedtoknow, steemquestions, ikilledcobain, anotherjoe, starline, jznsamuel, daniel.dalo, skririm, mprgrmmr, thatsweeneyguy, migo25, eirik, damla, cassidyandfranks, komischername, timoshey, ragnaros, jeff001).
Bytecoin will stay in a trading range between the April 8 low and the May 21 peak until July 4 (9 voters as of 3 PM EST June 5: me-tarzan, twinner, spinbunny, yefet, tfeldman, avarice, coolthings, andy23, fintekneeks).
You won.
Bytecoin will drop below the April 8 low (3 voters as of 3 PM EST June 5: razorwave8, sqlinsix, mirda).
I think bytecoin is overvalued. The most overvalued perhaps. As far as I can see, it is a stagnant project. Trust the fundamentals. Lines in a chart has NO value.
Bytecoin will takeout the May 21 peak.
Very good post. Good to see I'm not the only one that is thinking about this. Blockchain is here to stay, therefore we shouldn't look at what most people invest in but in the real quality projects, with great teams, management and a great product. Some people are still investing in "an idea". Is an Idea worth 100m+ USD to you? I found this amazing platform: https://www.coincheckup.com An amazing crypto research site. They researched every single crypto out there. This is truly great.