Crypto Contest October 8: EmerCoin

EmerCoin (EMCUSD) has broken out of the triangle pattern in the four-hour chart.

(Chart courtesy of Tradingview.com)

In Elliott Wave terms, EmerCoin began a wave one advance on February 13. The red wave one finished on March 3, and the red wave two correction ended on March 10. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 22, and the red wave four (blue sub-waves a-b-c) correction could have ended on September 15. If this wave count is correct, EmerCoin should be heading next towards the June 22 peak in the red wave five.

(Chart courtesy of Tradingview.com (log scale))

Looking at the weekly chart, I believe EmerCoin is currently in the wave three.

(Chart courtesy of Tradingview.com (log scale))

If you think this analysis is correct, upvote this post and upvote the comment "EmerCoin will takeout the June 22 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "EmerCoin will drop below the September 15 low".

If you think EmerCoin is in a range, upvote this post and upvote the comment "EmerCoin will stay in a trading range between the September 15 low and the June 22 peak until November 8".

You can upvote the comment until 3 PM EST October 9 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).