Crypto Contest January 5: Loom Network
Loom Network (Binance: LOOMBTC) 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, Loom Network began a wave one advance on September 12, 2018. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on October 12, 2018, and the red wave two (blue sub-waves a-b-c) correction ended on November 25, 2018. If this wave count is correct, Loom Network should be heading next towards the October 12, 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Loom Network is a platform as a service built on top of Ethereum that allows developers to run large-scale decentralized applications. BlockchainBrad interviewed James Duffy, co-founder of the Loom Network, in October 2018.
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loom Network will takeout the October 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loom Network will drop below the September 2018 low".
If you think Loom Network is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Loom Network will stay in a trading range between the September 2018 low and the October 2018 peak until February 9".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST January 8 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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Loom Network will stay in a trading range between the September 2018 low and the October 2018 peak until February 9 (16 voters as of 3 PM EST January 8: bleujay, bentleycapital, abh12345, mellofello, allyouneedtoknow, toofasteddie, ace108, steem-d-anlovnit, jznsamuel, diogosantos, tzap90, harryp3, fullcoverbetting, simonjay, mgood, richard78624).
You won. Paid out from @maarnio1
Loom Network will drop below the September 2018 low (6 voters as of 3 PM EST January 8: freiheit50, sqlinsix, skepticology, vicspics, barbadosso, kunschj).
Loom Network will takeout the October 2018 peak (6 voters as of 3 PM EST January 8: diana.feuerberg, steemit.nemesis, lydon.sipe, reconnectnature, galasek, sporttr).
Greetings @maarnio,
Thank you for these contests.
Wishing you and yours a Happy and a Prosperous New Year 2019!
Appreciate the winnings and the resteems.
Thank you bentleycapital.
Great having you here daily.
Best of luck to 2019.
I have mixed feelings about Loom Network, but I think the price will stay in the trading range for a long while.
@maarnio, I was unaware was this network but now for sure it's an addition to my knowledge. Stay blessed. 🙂
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