Crypto Contest January 13: Cardano

Cardano (ADABTC) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Ada began a wave one advance on December 8, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 19, 2017, and the red wave two correction ended on December 22, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 4 this year, and the red wave four (blue sub-waves a-b-c) correction ended on January 11. If this wave count is correct, Ada should be heading next towards the January 4 peak in the red wave five.

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

Looking at the daily chart, I believe Ada is currently in the red wave three (blue sub-wave v).

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

Funnymentals

Cardano is sometimes called as the Ethereum of Japan. Here is a 14 minute video about Cardano made by Boxmining and published on December 11, 2017.

(Sources: https://www.cardanohub.org/ and YouTube)

If you think this analysis is correct, upvote this post and upvote the comment "Ada will takeout the January 4 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Ada will drop below the December 22, 2017 low".

If you think Ada is in a range, upvote this post and upvote the comment "Ada will stay in a trading range between the December 22, 2017 low and the January 4 peak until February 13".

You can upvote the comment until 3 PM EST January 14 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 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.