Crypto Contest November 15: I/O Digital Currency
I/O Digital Currency has broken out of the daily triangle pattern.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe I/O Digital Currency has completed one cycle from the August 11 low. The five wave advance ended on the September 11, and the three wave correction finished on the October 29. If this wave count is correct, I/O Digital Currency should be heading next towards the September 11 peak.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I/O Digital Currency is currently most likely in the wave three (sub-wave v). The wave one started on the May 30, and ended on the June 18. The wave two correction finished on the June 26.
(Chart courtesy of Tradingview.com)
In the monthly chart, I believe I/O Digital Currency is in the wave three. The wave one started in February, and ended in March. The wave two correction finished on the May 30.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long I/O Digital Currency.
If you think this analysis is correct, upvote this post and upvote the comment "I/O Digital Currency will takeout the September 29 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "I/O Digital Currency will drop below the October 29 low".
You can upvote the comment until 3 PM EST November 16 and you can upvote only one comment. 100% of Steem (12.657 STEEM) from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
I/O Digital Currency will takeout the September 29 peak (6 voters as of 3 PM EST November 16: bleujay, yefet, jamesbrown, anotherjoe, fortinbuff, escapeamericanow).
I/O Digital Currency will drop below the October 29 low (5 voters as of 3 PM EST November 16: gregory-f, twinner, hisnameisolllie, wingz, freemit).
You won.
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I/O Digital Currency will drop below the October 29 low