Crypto Contest November 25: MonaCoin
MonaCoin (MONABTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
Elliott Wave Analysis
In Elliott Wave terms, MonaCoin began a wave one advance on August 15. The wave one finished on September 4, and the wave two correction ended on October 2. The wave three advance finished on October 13, and the wave four correction ended on November 2. If this wave count is correct, MonaCoin should be heading next towards the October 13 peak in the wave five.
(Chart courtesy of Tradingview.com (log scale))
In the weekly chart, I believe MonaCoin is currently in the red wave three (blue sub-wave v). The red wave three began on August 15.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
MonaCoin is the first Japanese cryptocurrency. Here is a video by Crypto Robin explaining MonaCoin.
(Source: YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "MonaCoin will takeout the October 13 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "MonaCoin will drop below the October 2 low".
If you think MonaCoin is in a range, upvote this post and upvote the comment "MonaCoin will stay in a trading range between the October 2 low and the October 13 peak until December 26".
You can upvote the comment until 3 PM EST November 26 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).
MonaCoin will stay in a trading range between the October 2 low and the October 13 peak until December 26 (25 voters as of 3 PM EST November 26: helikopterben, nomadics, lydon.sipe, bentleycapital, allyouneedtoknow, crokkon, flemingfarm, me-tarzan, lucasgabd, glennolua, catena, anaman, starline, komischername, mirda, coolthings, cassidyandfranks, richard78624, kanoe, yefet, ragnaros, andy23, heidelbaer, freskil, incrediblesnow).
I am again for range. End of the year is starnge on most markets.
MonaCoin will takeout the October 13 peak (17 voters as of 3 PM EST November 26: bleujay, gregory-f, abh12345, eirik, fitinfun, simonjay, jznsamuel, toofasteddie, digitalking, carlosdaniel, heroic15397, mihail.tsvetkov, me-do, dbooster, amfid4846, margaritaradkova, koskl).
I'm with you on this one! I know, huge shock that I'm not going contrary again and looking for the big payout.
You won.
nice analysis! good work
Thank you invsw2016.
Are you invested?
MonaCoin will drop below the October 2 low (4 voters as of 3 PM EST November 26: dlina-v-metrah, reconnectnature, tzap90, gunsmithing).
I watched the video - very interesting although 80% goes over my head. I like the idea this coin is being adopted. I guess this is happening to many of the coins and one day we will be at a tipping point. So glad to catch this one!
Yep.
MonaCoin just went past Steem in marketcap.
Oh wow! Good for them - bad for us. I want to predict the future of steem now :)
Steem will follow. It has been lagging lately but it won't last forever.
hi steemit friends
PLEASE FOLLOW AND UPVOTE ME WILL DO IT BACK TO YOU FOR SURE
THANKS FOR ALL OF YOUR SUPPORT...
I WILL KEEP WORKING..work like a team and get success