Crypto Contest September 1: Decred
Decred (DCRUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Decred began a red wave one advance on December 25, 2016. The red wave one finished on February 5 this year, and the red wave two correction ended on February 22. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 23, and the red wave four (blue sub-waves a-b-c) correction ended on July 16. If this wave count is correct, Decred should be heading next towards the June 23 peak in the red wave five.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Decred will takeout the June 23 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Decred will drop below the July 16 low".
If you think Decred is in a range, upvote this post and upvote the comment "Decred will stay in a trading range between the July 16 low and the June 23 peak until October 2".
You can upvote the comment until 3 PM EST September 2 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.
Decred will takeout the June 23 peak (31 voters as of 3 PM EST September 2: landofcrypto, otisbrown, gregory-f, soundmoney, kooshikoo, skririm, lucasgabd, sanjay91422, flemingfarm, rhino, thatsweeneyguy, starline, themovieplace, tzap90, anotherjoe, damla, allyouneedtoknow, eirik, abh12345, miniature-tiger, anetchen, dirty.hera, yefet, jznsamuel, allmonitors, mprgrmmr, ragnaros, digitalking, toofasteddie, me-do, incrediblesnow).
Decred will stay in a trading range between the July 16 low and the June 23 peak until October 2 (21 voters as of 3 PM EST September 2: ace108, gunsmithing, twinner, me-tarzan, lydon.sipe, catena, lasper, osmanbugra, ahinga, mirda, twinner03, twinner05, twinner08, twinner13, twinner21, steemychess, mela, carlosdaniel, andy23, razorwave8, sweethoney).
You won.
Decred will drop below the July 16 low (5 voters as of 3 PM EST September 2: spinbunny, coolthings, lig007, barcalogia, carver).
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Interesting post. I was about to post a similair thread. Buy and hold for the upcoming 2 to 5 years and the market will find it's way. We do need more indept investment analysis. Besides coinmarketcap.com there is: https://www.coincheckup.com The site lets you check all there is to know about the team, product, communication transparency, advisors and investment statistics on every crypto. Go to: https://www.coincheckup.com/coins/Decred#analysis To watch Decred Investment research report.