Crypto Contest Of The Day: Counterparty

Counterparty has broken the trend line drawn from the October 12 peak.

(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Counterparty has completed one cycle from the July 29 low. The five wave advance finished on the September 21, and the three wave correction ended on the October 21. If this wave count is correct, Counterparty should be heading next towards the September 21 peak.

(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Counterparty is currently most likely in the wave three (sub-wave iii). The wave one started in December 2015, and finished in March 2016. The wave two correction ended in June.

(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Counterparty.

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