Crypto Contest October 26: Monero
Monero (XMRUSD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Monero began a wave one advance on July 16. The wave one finished on July 27, and the wave two correction ended on August 1. The wave three advance finished on August 28, and the wave four correction ended on September 15. If this wave count is correct, Monero should be heading next towards the August 28 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the weekly chart, I believe Monero is currently in the red wave five (blue sub-wave v).
(Chart courtesy of Tradingview.com)
Funnymentals
Here is the official introduction video of Monero.
(Source: https://getmonero.org/media/Monero_Promo.m4v)
If you think this analysis is correct, upvote this post and upvote the comment "Monero will takeout the August 28 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Monero will drop below the August 1 low".
If you think Monero is in a range, upvote this post and upvote the comment "Monero will stay in a trading range between the August 1 low and the August 28 peak until November 26".
You can upvote the comment until 3 PM EST October 27 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).
Monero will takeout the August 28 peak (21 voters as of 3 PM EST October 27: bleujay, otisbrown, bentleycapital, lydon.sipe, catena, eirik, reconnectnature, kooshikoo, skririm, toofasteddie, mihail.tsvetkov, komischername, anetchen, mprgrmmr, koskl, digitalking, allmonitors, amfid4846, m3rcos1ty, kryptofan, abay).
heyy greetings .. i am happy for see somebody crypto using the elliott account...
Glad you found here.
You won.
Monero will stay in a trading range between the August 1 low and the August 28 peak until November 26 (23 voters as of 3 PM EST October 27: me-tarzan, twinner, flemingfarm, lucasgabd, simonjay, misalen, glennolua, themovieplace, tzap90, starline, abh12345, osmanbugra, ahinga, mirda, crokkon, coolthings, heroic15397, yefet, carlosdaniel, cassidyandfranks, ragnaros, andy23, richard78624).
Monero will drop below the August 1 low (6 voters as of 3 PM EST October 27: ace108, jznsamuel, razorwave8, me-do, gunsmithing, arpepa).
maybe can be draw a ABCDE on (B flat) also
Yes. That is also possible.
ok .. will see soon .
have a good trading tiger
It's obviously a flag.
Yep. Let's hope it plays out.
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