Crypto Contest October 30: DigitalNote
DigitalNote (XDNUSD) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, DigitalNote began a wave one advance on December 27, 2016. The red wave one finished on January 5 this year, and the red wave two correction ended on January 27. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 5, and the red wave four (blue sub-waves a-b-c) correction ended on October 24. If this wave count is correct, DigitalNote should be heading next towards the June 5 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly line chart, I believe DigitalNote is currently in the red wave three (blue sub-wave iii).
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
DigitalNote's website describes the coin as:
Meet decentralized privacy protected blockchain platform
With instant untraceable encrypted messages,
Secure CPU efficient ASIC resistant mining,
Blockchain deposits with interest.
(Source: http://digitalnote.org/)
If you think this analysis is correct, upvote this post and upvote the comment "DigitalNote will takeout the June 5 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "DigitalNote will drop below the October 24 low".
If you think DigitalNote is in a range, upvote this post and upvote the comment "DigitalNote will stay in a trading range between the October 24 low and the June 5 peak until November 30".
You can upvote the comment until 3 PM EST October 31 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).
DigitalNote will stay in a trading range between the October 24 low and the June 5 peak until November 30 (28 voters as of 3 PM EST October 31: freiheit50, lydon.sipe, flemingfarm, lucasgabd, me-tarzan, damla, cryptotem, misalen, catena, simonjay, abh12345, skririm, themovieplace, starline, tzap90, ahinga, komischername, coolthings, mprgrmmr, cassidyandfranks, carlosdaniel, koskl, richard78624, kanoe, heidelbaer, cryptogecko, incrediblesnow, profithouse).
On the weekly chart the stochastic is oversold since September 2017. That should give the coin a boost upwards. Even to a new highest ever.
But that should take a year or so.It took about 1.5 years since November 2015 for the price to rise to the highest ever of Jun 2017.
We have good volume this time. Maybe XDN wants to be like GRS.
I see blue wave c as you do where you marked it. Such volume for a wave 1 is not what one would expect. Who knows what some trading groups decided oct 29th. The next big volume i expect in december, making wave 3.
Putting some chips into XDN. When it has taken out the peak from June the investment will have grown by 5 times.
Like to thank you at this point. Following since the last 3 or so coins that you analyze. Whereas they are not easy to analyze, they have much potential. Which is worth taking a closer look.
You won.
DigitalNote will takeout the June 5 peak (15 voters as of 3 PM EST October 31: otisbrown, bentleycapital, eirik, jznsamuel, toofasteddie, criptorafa, deaconlee, mihail.tsvetkov, digitalking, napkin, amfid4846, sevinwilson, the-world, babysteps, elisablogs).
DigitalNote will drop below the October 24 low (12 voters as of 3 PM EST October 31: ace108, gregory-f, dlina-v-metrah, yefet, lasper, mirda, razorwave8, me-do, gunsmithing, allmonitors, cata22, freskil).
Upvoted
Hmmm, a new coin to learn about, thanks!
And to trade..
:)
good point!
This post has been ranked within the top 80 most undervalued posts in the first half of Oct 30. We estimate that this post is undervalued by $8.31 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Oct 30 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.
@steem-marketing has voted on behalf of @minnowpond.
If you would like to recieve upvotes from minnowponds team on all your posts, simply FOLLOW @minnowpond.
This wonderful post has received a bellyrub 5.97 % upvote from @bellyrub thanks to this cool cat: @maarnio. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.