Crypto Contest March 11: 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 November 12, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 5 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Lomocoin should be heading next towards the January 5 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Lomocoin is currently in the red wave three (blue sub-wave iii). The red wave three began on November 12, 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Lomocoin claims to be the first LBS (Location Based Services) based cryptocurrency in the world. CoolCriSyS just published a video about Lomocoin on March 6. It looks like it was the first time that he looked at the coin.
(Sources: http://www.lomostar.com/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Lomocoin will takeout the January 5 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Lomocoin will drop below the November 12, 2017 low".
If you think Lomocoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Lomocoin will stay in a trading range between the November 12, 2017 low and the January 5 peak until April 16".
You can upvote the comment until 3 PM EST March 14 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.
Lomocoin will stay in a trading range between the November 12, 2017 low and the January 5 peak until April 16 (36 voters as of 3 PM EST March 14: bleujay, sqlinsix, heroic15397, bentleycapital, soundmoney, simonjay, ace108, flemingfarm, revelationquotes, akpos, lucasgabd, komischername, themovieplace, migo25, ahinga, qmarpot, koskl, costanza, diogosantos, mitrado, me-do, mirda, coolthings, kunschj, nicolaepavelean, richard78624, catena, mihail.tsvetkov, criptorafa, akandadelwar, paul.atreides, galasek, cmoljoe, margaritaradkova, tzap90, utkarshvarma).
You won.
Lomocoin will takeout the January 5 peak (14 voters as of 3 PM EST March 14: steemquestions, positivebalances, lydon.sipe, misalen, crokkon, eirik, carlosdaniel, starline, cryptotem, ragnaros, neo-wiza, cosminblaga, stalexmkl, elisablogs).
Lomocoin will drop below the November 12, 2017 low (18 voters as of 3 PM EST March 14: gregory-f, glennolua, anetchen, dlina-v-metrah, gunsmithing, jznsamuel, reconnectnature, mgood, toofasteddie, skepticology, yefet, libert, barbadosso, portillo, andy23, abhicrypto, nordina, photo-moment).
I think lomocoin would be on the upward trend but might not hit January 5 peak so soon.
Just my thought though.