Crypto Contest February 5: Monero
Monero (XMRBTC) 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, Monero began a wave one advance on November 2, 2017. The red wave one finished on November 13, 2017, and the red wave two correction ended on December 8, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 20 this year, and the red wave four (blue sub-waves a-b-c) correction ended on February 2. If this wave count is correct, Monero should be heading next towards the January 20 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, I believe Monero is currently in the red wave five. The red wave five began on November 2, 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Here is a video where Riccardo Spagni talks why Monero is the world’s least professional cryptocurrency - and how that is a good thing! It was published on January 22 by Bitcoin Lectures.
(Sources: https://getmonero.org/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monero will takeout the January 20 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monero will drop below the December 8, 2017 low".
If you think Monero is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Monero will stay in a trading range between the December 8, 2017 low and the January 20 peak until March 8".
You can upvote the comment until 3 PM EST February 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).
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.
Monero will stay in a trading range between the December 8, 2017 low and the January 20 peak until March 8 (30 voters as of 3 PM EST February 6: helikopterben, steemquestions, glennolua, soundmoney, me-tarzan, twinner, sanjay91422, tzap90, acelad, lucasgabd, flemingfarm, miniature-tiger, me-do, mgood, catena, coolthings, kunschj, ahinga, mirda, mihail.tsvetkov, cassidyandfranks, harryp3, nafazul, deaconlee, criptorafa, ragnaros, beiker, akandadelwar, diogosantos, acehnature).
Monero will takeout the January 20 peak (25 voters as of 3 PM EST February 6: bleujay, fitinfun, bentleycapital, simonjay, eirik, digitalking, lydon.sipe, kanoe, crokkon, yefet, dirty.hera, toofasteddie, cryptotem, gregory-f, themovieplace, koskl, richard78624, costanza, barbadosso, plumygg, portillo, andy23, nordina, steemcollator, heidelbaer).
Yes, I don't mind losing the contest if Monero, and the other cryptos, rebound BIG!
Monero will takeout the January 20 peak
I hope so....i dont know whats happening to the market..its all red
Thanks lovelymkylie.
Please remember to vote the right comment.
Monero will takeout the January 20 peak
Monero will takeout the January 20 peak
You won.
Monero will drop below the December 8, 2017 low (6 voters as of 3 PM EST February 6: sqlinsix, gunsmithing, dlina-v-metrah, starline, godo, michaelluchies).
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I don't think Monero will have enough time to take out the peak before March 8, that´s my only worry for voting that it take out the Jan 20 peak.
Based on the elliott wave, I would have to think it should take out the 1-20 peak.
thanks for share this post,
i appreciate contest.
Wow This Wondearful Vidos And Gread Post Dear @maarnio
Bit late, but count me in: Monero will stay in a trading range between the December 8, 2017 low and the January 20 peak until March 8.