Crypto Contest November 4: OkCash

OkCash (OKUSD) has broken out of the triangle pattern in the daily chart.

(Chart courtesy of Tradingview.com)

Elliott Wave Analysis

In Elliott Wave terms, OkCash began a wave one advance on August 14. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on September 12, and the red wave two (blue sub-waves a-b-c) correction ended on October 24. If this wave count is correct, OkCash should be heading next towards the September 12 peak in the red wave three.

(Chart courtesy of Tradingview.com)

Looking at the weekly chart, I believe OkCash is currently in the red wave five (blue sub-wave iii).

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

Funnymentals

OkCash is a Proof of Stake currency better described as:

OK is a hybrid cryptocurrency that started with PoW mining on November 2014 to then turn into a full Proof of stake currency. OK requires 10 confirmations for transactions, the block time is 72 seconds, the staking times are: min 8 hrs - max 1 year, and the stakes require 64 confirmations, OK network uses the 6969 Rpcport and the 6970 Port, Staking will have 11 halvings and is expected to last until the year 2148.

(Source: https://okcash.io/)

If you think this analysis is correct, upvote this post and upvote the comment "OkCash will takeout the September 12 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "OkCash will drop below the August 14 low".

If you think OkCash is in a range, upvote this post and upvote the comment "OkCash will stay in a trading range between the August 14 low and the September 12 peak until December 5".

You can upvote the comment until 3 PM EST November 5 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).