Crypto Contest January 24: Decentraland
Decentraland (Bittrex: MANABTC) 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, Decentraland began a wave one advance on September 12, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on December 3, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on January 13 this year. If this wave count is correct, Decentraland should be heading next towards the December 3, 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Decentraland is currently in the red wave three (blue sub-wave iii). The red wave three began on September 12, 2018.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Decentraland is a decentralized virtual world that runs on open standards. DCL Blogger compared Decentraland against NeoLand earlier this month.
(Sources: Decentraland and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Decentraland will takeout the December 3, 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Decentraland will drop below the September 12, 2018 low".
If you think Decentraland is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Decentraland will stay in a trading range between the September 12, 2018 low and the December 3, 2018 peak until February 28".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 27 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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Published by Maarnio
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Decentraland will stay in a trading range between the September 12, 2018 low and the December 3, 2018 peak until February 28 (19 voters as of 3 PM EST January 27: bleujay, bentleycapital, gregory-f, mellofello, abh12345, crokkon, toofasteddie, allyouneedtoknow, tzap90, reconnectnature, ace108, mitrado, steem-d-anlovnit, fullcoverbetting, mgood, harryp3, utkarshvarma, richard78624, simonjay).
You won. Paid out from @maarnio1
Decentraland will drop below the September 12, 2018 low (7 voters as of 3 PM EST January 27: sqlinsix, diana.feuerberg, freiheit50, skepticology, vicspics, barbadosso, lydon.sipe, galasek).
Decentraland will takeout the December 3, 2018 peak (1 voter as of 3 PM EST January 27: steemit.nemesis).
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