Crypto Contest December 29: Ethereum
Ether (ETH/EUR) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Ether began a wave one advance on December 6. The wave one finished on December 8, and the wave two correction ended on December 25. Ether is currently in the wave three.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Ether has most likely completed one cycle from the October 2015 low. The five wave advance finished on June 17, and the three wave correction ended on December 6. If this wave count is correct, Ether should be heading next towards the June 17 peak.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Ether.
If you think this analysis is correct, upvote this post and upvote the comment "Ether will takeout the October 18 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ether will drop below the December 6 low".
If you think Ether is in a range, upvote this post and upvote the comment "Ether will stay in a trading range between the December 6 low and the October 18 peak until January 26, 2017".
You can upvote the comment until 3 PM EST December 30 and you can upvote only one comment. 200% of Steem (2 X 0.287 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.
Ether will stay in a trading range between the December 6 low and the October 18 peak until January 26, 2017 (5 voters as of 3 PM EST December 30: helikopterben, bleujay, gregory-f, spinbunny, yefet).
You won.
Ether will takeout the October 18 peak (6 voters as of 3 PM EST December 30: otisbrown, anotherjoe, good-karma, inertia, soundmoney, fortinbuff).
Ether will drop below the December 6 low (17 voters as of 3 PM EST December 30: me-tarzan, daveks, twinner, nextgen622, majes, bidnat, idnit, garvofe, jdbry, digit, idnit9, idnit1, steemradio, mrfoot, legends, tamersameeh, angels).
This post has been ranked within the top 50 most undervalued posts in the second half of Dec 29. We estimate that this post is undervalued by $5.36 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Dec 29 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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end and start of year always gonna be interesting. let's see what happens
Everything looks good so far.
"Ether will takeout the October 18 peak".
Ether will stay in a trading range between the December 6 low and the October 18 peak until January 26, 2017.