Crypto Contest January 22: Loopring

Loopring (LRCBTC) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Loopring began a wave one advance on September 4, 2017. The red wave one finished on October 30, 2017, and the red wave two correction ended on December 12, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 9 this year, and the red wave four correction ended on January 17. If this wave count is correct, Loopring should be heading next towards the January 9 peak in the red wave five.

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

Looking at the line chart, one can see that there is no overlapping between waves one and four.

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

Funnymentals

According to their website:

Loopring is not only a protocol but also a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reducing the cost of trading. 

Here is a 5 minute introduction video done by Coin FOMO.

(Sources: https://loopring.org/ and YouTube)

If you think this analysis is correct, upvote this post and upvote the comment "Loopring will takeout the January 9 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "Loopring will drop below the December 12, 2017 low".

If you think Loopring is in a range, upvote this post and upvote the comment "Loopring will stay in a trading range between the December 12, 2017 low and the January 9 peak until February 22".

You can upvote the comment until 3 PM EST January 23 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 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.