Crypto Contest May 21: Counterparty
Counterparty has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Counterparty began a wave one advance on May 3. The wave one (sub-waves i-v) finished on May 8, and the wave two (sub-waves abc) ended on May 9. If this wave count is correct, Counterparty should be heading next towards the May 8 peak in the wave three.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Counterparty is currently in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Counterparty will takeout the May 8 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Counterparty will drop below the May 3 low".
If you think Counterparty is in a range, upvote this post and upvote the comment "Counterparty will stay in a trading range between the May 3 low and the May 8 peak until June 16".
You can upvote the comment until 3 PM EST May 22 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.
Counterparty will takeout the May 8 peak (19 voters as of 3 PM EST May 22: bleujay, otisbrown, simonjay, yefet, kooshikoo, steemquestions, alexrickard86, soundmoney, ikilledcobain, daniel.dalo, eirik, mprgrmmr, skririm, mirda, jznsamuel, dirty.hera, ragnaros, timoshey, abh12345).
Looks good to me!
Yes. It was.
You won.
Counterparty will stay in a trading range between the May 3 low and the May 8 peak until June 16 (9 voters as of 3 PM EST May 22: halo, twinner, allyouneedtoknow, spinbunny, ace108, sqlinsix, starline, avarice, coolthings).
I'm holding some XCP. And so I hope you are right! Doubtless the chart looks good. But will the coin do what the chart says??
I lost my faith into XCP when I tried to move the XCP from my cold-wallet to Poloniex. I needed to send first a little amount of BTC to enable the transfer. That was 2 years or so ago. Now with the high fees on BTC blockchain, good luck :-)
Fortunately the coins are already on poloniex and free for selling. Thanks for your information.
Counterparty will drop below the May 3 low (2 voters as of 3 PM EST May 22: razorwave8, andy23).
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