Crypto Contest December 23: Cardano
Cardano (Bittrex: ADABTC) 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, Cardano began a wave one advance in October 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January this year, and the red wave two (blue sub-waves a-b-c) correction ended on December 7. If this wave count is correct, Cardano should be heading next towards the January peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Cardano is a decentralized blockchain / cryptocurrency project based on peer-reviewed research and the highly secure Haskell coding language. You can view their meetup presentation from September below.
(Sources: https://www.cardano.org/en/home/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Cardano will takeout the September 23 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Cardano will drop below the December 7 low".
If you think Cardano is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Cardano will stay in a trading range between the December 7 low and the September 23 peak until January 27, 2019".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST December 26 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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Cardano will stay in a trading range between the December 7 low and the September 23 peak until January 27, 2019 (13 voters as of 3 PM EST December 26: diana.feuerberg, bentleycapital, mellofello, votum, toofasteddie, vicspics, steem-d-anlovnit, diogosantos, jznsamuel, mgood, fullcoverbetting, simonjay, richard78624).
You won. Paid out from @maarnio1
Cardano will drop below the December 7 low (5 voters as of 3 PM EST December 26: sqlinsix, freiheit50, barbadosso, ace108, sporttr).
Cardano will takeout the September 23 peak (7 voters as of 3 PM EST December 26: gregory-f, steemit.nemesis, allyouneedtoknow, lydon.sipe, kunschj, reconnectnature, galasek).
At this point I don´t know what to think, although I feel the sentiment in the market is changing, I don´t see the price going up in this short term.
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