Crypto Contest May 18: Einsteinium
Einsteinium has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Einsteinium began a wave one advance on January 5. The wave one finished on February 7, and the wave two correction ended on March 4. The wave three advance finished on April 16, and the wave four correction ended on May 9. If this wave count is correct, Einsteinium should be heading next towards the April 16 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Einsteinium is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Einsteinium will takeout the April 16 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Einsteinium will drop below the March 4 low".
If you think Einsteinium is in a range, upvote this post and upvote the comment "Einsteinium will stay in a trading range between the March 4 low and the April 16 peak until June 13".
You can upvote the comment until 2 AM EST May 19 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.
Einsteinium will takeout the April 16 peak (16 voters as of 2 AM EST May 19: otisbrown, gregory-f, allyouneedtoknow, ace108, steemquestions, sqlinsix, soundmoney, ikilledcobain, starline, eirik, mprgrmmr, freedomcoin, thatsweeneyguy, alittlebitofme, dirty.hera, ilovefashion).
You won.
Einsteinium will stay in a trading range between the March 4 low and the April 16 peak until June 13.
In my opinion Bitcoin will fail. Can you trust a currency that is reliant on vulnerable technology?? With the creation of a number of new competing cryptocurrencies being developed and eventually diluting the market. If a cyber attack occurred would your Bitcoin be safe. Would you intrust thousands of dollars to the system? How long before Government infiltrate this technology and causes it to fail? Why would Government do that? Because central banks will not tolerate a currency that they do not have complete control over, thats why. If they cause a failure in the system, then people will lose confidence in them, unless of course the federal government comes to the rescue and offers to insure the currency FDICA baby. Look what they did to Precious metals. The feds found a way to manipulate it and fix it. The banks simply print and sell enough paper contracts to dilute the market. Some say that there are up to 200 hundred paper contracts per ounce of gold. The silver and gold markets are easily moved by the simple push of a computer key. They must regulate it in order to keep the value of the dollar intact. The same is true with cryto. If they let the market run, paper currencies would diminish in value. Is it possible that the cryptocurrency was ordained by the central banks as a trail to see if people would buy into this type of monetary system? But for now enjoy the wealth it has created, just don't think they will let the party continue.
Einsteinium will drop below the March 4 low.
This post has been ranked within the top 50 most undervalued posts in the second half of May 18. We estimate that this post is undervalued by $12.21 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 18 - Part II. 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.