Crypto Contest June 5: Peercoin
Peercoin has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Peercoin began a wave one advance on December 30, 2016. The wave one (sub-waves i-v) finished on May 7, and the wave two (sub-waves abc) correction ended on May 27. If this wave count is correct, Peercoin should be heading next towards the May 7 peak in the wave three.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Peercoin will takeout the May 7 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Peercoin will drop below the December 30, 2016 low".
If you think Peercoin is in a range, upvote this post and upvote the comment "Peercoin will stay in a trading range between the December 30, 2016 low and the May 7 peak until July 5".
You can upvote the comment until 3 PM EST June 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). Only participants with a Reputation of 35 or more will qualify in the contest.
Peercoin will stay in a trading range between the December 30, 2016 low and the May 7 peak until July 5 (14 voters as of 3 PM EST June 6: bleujay, me-tarzan, twinner, razorwave8, yefet, libert, starline, jznsamuel, mprgrmmr, thatsweeneyguy, migo25, avarice, dirty.hera, ragnaros).
You won.
Peercoin will takeout the May 7 peak (15 voters as of 3 PM EST June 6: otisbrown, coinmaker, gregory-f, spinbunny, alexrickard86, soundmoney, ikilledcobain, anotherjoe, daniel.dalo, eirik, mirda, cassidyandfranks, damla, komischername, andy23).
Peercoin will drop below the December 30, 2016 low (2 voters as of 3 PM EST June 6: coolthings, lig007).
Peercoin will takeout the May 7 peak
I'm too late for the contest. :(
I think Peercoin is undervalued if it's under $10.. That's my short-term prediction.
Can you update the results?
Solid blog. I was about to post a similair thread. In my opinion blockchain is here to stay. A proper investment for the long term. We really need more insights in the market and previous investment results (even though they don't deliver any guarantee for the future). Personally I always use: https://www.coincheckup.com It's a great site that gives in depth research on every tradable cryto in the market.