Crypto Contest December 19: PowerLedger
PowerLedger (POWRETH) 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, PowerLedger began a wave one advance on November 14. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on November 22, and the red wave two (blue sub-waves a-b-c) correction ended on December 13. If this wave count is correct, PowerLedger should be heading next towards the November 22 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Power Ledger is a decentralized peer to peer energy exchange platform. Here is the official video.
(Source: https://powerledger.io/)
If you think this analysis is correct, upvote this post and upvote the comment "PowerLedger will takeout the November 22 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "PowerLedger will drop below the November 14 low".
If you think PowerLedger is in a range, upvote this post and upvote the comment "PowerLedger will stay in a trading range between the November 14 low and the November 22 peak until January 19, 2018".
You can upvote the comment until 3 PM EST December 20 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).
PowerLedger will takeout the November 22 peak (36 voters as of 3 PM EST December 20: bleujay, lydon.sipe, bentleycapital, simonjay, reconnectnature, eirik, jznsamuel, glennolua, ace108, lucasgabd, flemingfarm, dirty.hera, osmerj, mprgrmmr, mgood, digitalking, toofasteddie, komischername, carlosdaniel, catena, freskil, libert, cassidyandfranks, artz, mihail.tsvetkov, kanoe, koskl, incrediblesnow, twistytango, spyfromthecold, lakov, naturalguy, nordina, yefet, barbadosso, utkarshvarma).
PowerLedger will stay in a trading range between the November 14 low and the November 22 peak until January 19, 2018 (21 voters as of 3 PM EST December 20: haphazard-hstead, twinner, lasper, sanjay91422, crokkon, dlina-v-metrah, themovieplace, veleje, tzap90, starline, criptorafa, mirda, ahinga, coolthings, richard78624, ragnaros, me-do, andy23, portillo, dlwagner, utkarshvarma).
You won.
Thank you for posting @maarnio.
Lots of winning going on.....thank you for the SBD.
All the best to you and yours. Cheers
Thank you bentleycapital for participating.
Good luck!
PowerLedger will drop below the November 14 low (3 voters as of 3 PM EST December 20: cryptotem, gregory-f, gunsmithing).
You once again are having a contest with a crypto that I own. So I voted it to take out the high. Can't vote against myself. :-)
Your periodically conducted crypto forecast challenge was added to Steemit Contest Compilation for current week.
Thank you @maarnio for your giving us a chance to win some free SBD.
Thank you artz.
Triangles are very bullish patterns. The obj mentioned is real. I am learning about Elliot waves, will the last impulse be counted as the first minor wave? 1, 2?
Would it be a good entry point?
I believe we are currently in the blue sub-wave iii and green micro wave iii.
"PowerLedger will takeout the November 22 peak".
Thank you.
Please remember to upvote the right comment.
I was not aware of that, Thanks.
Thank you for an excellent educational post, a lot I found out.
Thank you Wilson.
I am glad to hear that.