Crypto Contest December 17: Ethereum Classic
Ethereum Classic (ETC/EUR) has broken out of the daily wedge pattern.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Ethereum Classic has completed five waves from the December 6 low in the two-hour chart. The five wave advance ended on the December 15. I believe the wave a correction is close to complete now, which should be followed by waves b and c.
(Chart courtesy of Tradingview.com)
Looking at the four-hour chart, Ethereum Classic is most likely in the wave four. The wave one started on the November 29, and finished on the December 5. The wave two correction ended on the December 6, and the wave three advance finished on the December 15. We are currently in the wave four, which I believe is still incomplete. After the wave four is complete, Ethereum Classic should be heading towards the December 15 peak and past it.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Ethereum Classic.
If you think this analysis is correct, upvote this post and upvote the comment "Ethereum Classic will takeout the September 5 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ethereum Classic will drop below the November 29 low".
If you think Ethereum Classic is in a range, upvote this post and upvote the comment "Ethereum Classic will stay in a trading range between the November 29 low and the September 5 peak until January 13, 2017".
You can upvote the comment until 3 PM EST December 18 and you can upvote only one comment. 300% of Steem (3 X 0.338 STEEM) 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.
Ethereum Classic will stay in a trading range between the November 29 low and the September 5 peak until January 13, 2017 (4 voters as of 3 PM EST December 18: helikopterben, gregory-f, spinbunny, simonjay).
November 29 low and the September 5 peak until January 13, 2017
Thank you. I hope you win.
Ethereum Classic will takeout the September 5 peak (7 voters as of 3 PM EST December 18: bleujay, yefet, landofcrypto, anotherjoe, soundmoney, applecrisp, adelja).
You won.
Ethereum Classic will drop below the November 29 low (1 voter as of 3 PM EST December 18: twinner).
This post has been ranked within the top 80 most undervalued posts in the second half of Dec 17. We estimate that this post is undervalued by $5.53 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Dec 17 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Thanks for sharing
Thank you Paul.
thanks maarnio upvoted back.
Thank you Simon. Not participating in the contest?