Crypto Contest October 5: MonaCoin
MonaCoin (MONABTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, MonaCoin began a wave one advance on January 5. The red wave one finished on January 12, and the red wave two correction ended on February 4. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on July 1, and the red wave four (blue sub-waves a-b-c) correction ended on August 15. If this wave count is correct, MonaCoin should be heading next towards the July 1 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
One can see the Elliott Waves even better in the line chart.
(Chart courtesy of Tradingview.com (log scale))
If you think this analysis is correct, upvote this post and upvote the comment "MonaCoin will takeout the July 1 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "MonaCoin will drop below the August 15 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 August 15 low and the July 1 peak until November 5".
You can upvote the comment until 3 PM EST October 6 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 August 15 low and the July 1 peak until November 5 (21 voters as of 3 PM EST October 6: bleujay, flemingfarm, twinner, lucasgabd, simonjay, criptorafa, catena, themovieplace, osmanbugra, komischername, mprgrmmr, mirda, crokkon, abh12345, ahinga, carlosdaniel, ragnaros, andy23, richard78624, barcalogia, me-do).
Thank you for posting @maarnio.
Appreciate the winnings.....
and the randowhale vote....very kind of you.
All the best to you and yours. Cheers.
Thank you bleujay.
MonaCoin will takeout the July 1 peak (7 voters as of 3 PM EST October 6: bentleycapital, lydon.sipe, eirik, jznsamuel, anetchen, incrediblesnow, digitalking).
You won.
MonaCoin will drop below the August 15 low (12 voters as of 3 PM EST October 6: gregory-f, miniature-tiger, tzap90, starline, coolthings, cassidyandfranks, gunsmithing, napkin, amfid4846, igsamuel, freskil, yefet, jznsamuel).
A wonderful post. @maarnio followedd
This is pretty magnificent really you did very well job.
MonaCoin will stay in a trading range between the August 15 low and the July 1 peak until November 5.
Please upvote the right comment.
I just up voted now. Great post !
Hint: The first comment.
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