Crypto Contest March 27: GXChain

GXChain (GXSUSD) has broken out of the triangle pattern in the daily chart.

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

Elliott Wave Analysis

In Elliott Wave terms, GXChain began a wave one advance on November 17, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 18. If this wave count is correct, GXChain should be heading next towards the January 7 peak in the red wave three.

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

Funnymentals

GXS provides a secure, fast, traceable data transaction and credit verification service based on the blockchain. You can view their Dapp in the following official video.

(Sources: https://gxs.gxb.io/en/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "GXS will takeout the January 7 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "GXS will drop below the November 17, 2017 low".

If you think GXS is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "GXS will stay in a trading range between the November 17, 2017 low and the January 7 peak until May 2".

You can upvote the comment until 3 PM EST March 30 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).

Bonus

I will be sending one Trophy Token (@trophy-token) to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.