Crypto Contest November 29: Nexus

Nexus (NXSUSD) has broken out of the triangle pattern in the daily chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Nexus began a wave one advance in November 2015. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in July 2016, and the red wave two correction ended in October 2016. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on September 13, and the red wave four correction ended on November 12. If this wave count is correct, Nexus should be heading next towards the September 13 peak in the red wave five.

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

In the monthly line chart we can see that Nexus is most likely in the red wave three (blue sub-wave v).

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

Funnymentals

Here is the official Nexus introduction video.

(Source: http://www.nexusearth.com/)

If you think this analysis is correct, upvote this post and upvote the comment "Nexus will takeout the September 13 peak".

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

If you think Nexus is in a range, upvote this post and upvote the comment "Nexus will stay in a trading range between the November 12 low and the September 13 peak until December 30".

You can upvote the comment until 3 PM EST November 30 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).