Crypto Contest December 9: LoMoCoin

LoMoCoin (LMCUSD) 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, LoMoCoin began a wave one advance on February 22. The red wave one (blue sub-waves i-ii-iii-iv-v, leading diagonal triangle) advance finished on June 22, and the red wave two (blue sub-waves a-b-c) correction ended on September 8. If this wave count is correct, LoMoCoin should be heading next towards the June 22 peak in the red wave three.

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

Funnymentals

Here is a short "official" introduction video of LoMoCoin.

(Source: http://www.lomostar.com/)

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

If you think this analysis is wrong, upvote this post and upvote the comment "LoMoCoin will drop below the September 8 low".

If you think LoMoCoin is in a range, upvote this post and upvote the comment "LoMoCoin will stay in a trading range between the September 8 low and the June 22 peak until January 9, 2018".

You can upvote the comment until 3 PM EST December 10 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).