Crypto Contest September 11: PotCoin
PotCoin (POTBTC) has broken out of the wedge pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, PotCoin began a wave one advance in January 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in June 2017, and the red wave two (blue sub-waves a-b-c) correction ended in August this year. If this wave count is correct, PotCoin should be heading next towards the June 2017 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
As stated in their website, PotCoin was designed to empower, secure and facilitate the legal cannabis community’s transactions by creating a unique crypto currency for this thriving industry. You can view the official fan video below.
(Sources: https://www.potcoin.com/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "PotCoin will takeout the April 2018 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "PotCoin will drop below the June 2016 low".
If you think PotCoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "PotCoin will stay in a trading range between the June 2016 low and the April 2018 peak until October 16".
(Chart courtesy of Tradingview.com (log scale))
You can upvote the comment until 3 PM EST September 14 and you can upvote only one comment. 50% of liquid STEEM + SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first).
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PotCoin will stay in a trading range between the June 2016 low and the April 2018 peak until October 16 (24 voters as of 3 PM EST September 14: positivebalances, gregory-f, novus-locus, abh12345, soundmoney, simonjay, jznsamuel, allyouneedtoknow, misalen, kunschj, starline, reconnectnature, toofasteddie, costanza, amity123, steem-d-anlovnit, koskl, marverick984, punjolife, mitrado, fullcoverbetting, mirda, criptorafa, rothberg).
PotCoin will drop below the June 2016 low (12 voters as of 3 PM EST September 14: sqlinsix, skepticology, glennolua, freiheit50, vicspics, ace108, milano1113, barbadosso, mike11, mgood, pario, biomanu).
PotCoin will takeout the April 2018 peak (5 voters as of 3 PM EST September 14: crokkon, steemit.nemesis, techlife, chotho, galasek).
This one is a tricky one, but I´m very tempted to say that it will stay in trading range at least until October, my doubt is if it will stay there until 16th of October.
It’ll stay in a range I’m betting.
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