Crypto Contest August 6: Golem
Golem (GNT/ETH) has broken out of the wedge pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Golem began a wave one advance on March 17. The wave one (sub-waves i-v) finished on April 30, and the wave two (sub-waves a-b-c) correction ended on August 1. If this wave count is correct, Golem should be heading next towards the April 30 peak in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Golem will takeout the April 30 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Golem will drop below the March 17 low".
If you think Golem is in a range, upvote this post and upvote the comment "Golem will stay in a trading range between the March 17 low and the April 30 peak until September 6".
You can upvote the comment until 3 PM EST August 7 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.
Golem will drop below the March 17 low (10 voters as of 3 PM EST August 7: cm-steem, freiheit50, steem-buzz, kooshikoo, damla, osmanbugra, anetchen, c-c-c, yinyangboobookat, lig007).
Golem will stay in a trading range between the March 17 low and the April 30 peak until September 6 (27 voters as of 3 PM EST August 7: landofcrypto, twinner, simonjay, yefet, me-tarzan, ahinga, gregory-f, tzap90, allyouneedtoknow, thatsweeneyguy, steemit.nemesis, starline, flemingfarm, lucasgabd, jznsamuel, mirda, apsu, reconnectnature, psilacetin, abh12345, miniature-tiger, psywalker, ragnaros, mela, andy23, toofasteddie, wallsnow).
You won.
Golem will takeout the April 30 peak (17 voters as of 3 PM EST August 7: otisbrown, highwave, catena, dirty.hera, architrader, skririm, allmonitors, libert, bradenford, themovieplace, shiri, steemcollator, coolthings, eirik, mprgrmmr, carlosdaniel, vermute).
Golem will definitely takeout the April 30 peak
Definitely.
So higher prices ?
That is how I see it.
This is a great setup, and I think it will eventually take out the April 30. Nonetheless, I am having trouble understanding the concept of timing, as it took about a month from previous similar price levels. Maybe it's an Elliot Wave thing :)
I believe your timing is spot on. The wave three should be the most powerful wave, but sometimes (and quite often) it can also take the longest time to complete.
Thanks for spotting it... 1:4 risk/reward ratio which is very hard to find... really worth looking further into!
Gnt has many competetors ....
Upvoted and followed
True and ether is one of them.
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