Crypto Contest December 2: CloakCoin

CloakCoin (CLOAKUSD) 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, CloakCoin began a wave one advance on July 29. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on September 15, and the red wave two (blue sub-waves a-b-c) correction ended on November 3. If this wave count is correct, CloakCoin should be heading next towards the September 15 peak in the red wave three.

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

Looking at the weekly line chart, I believe CloakCoin is currently in the red wave five (blue sub-wave iii). The red wave five began on July 29.

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

In the monthly chart, CloakCoin is most likely in the red wave three (blue sub-wave v).

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

Funnymentals

Here is an introduction video of CloakCoin by CloakTV.

(Source: CloakTV)

If you think this analysis is correct, upvote this post and upvote the comment "CloakCoin will takeout the September 15 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "CloakCoin will drop below the July 29 low".

If you think CloakCoin is in a range, upvote this post and upvote the comment "CloakCoin will stay in a trading range between the July 29 low and the September 15 peak until January 2, 2018".

You can upvote the comment until 3 PM EST December 3 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).