Crypto Contest February 19: Qtum
Qtum (QTUMUSD) 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, Qtum began a wave one advance on November 2, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 7 this year, and the red wave two (blue sub-waves a-b-c) correction ended on February 6. If this wave count is correct, Qtum should be heading next towards the January 7 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Zooming out in the daily chart, I believe Qtum is currently in the red wave three (blue sub-wave iii). The red wave three began on November 2, 2017.
(Chart courtesy of Tradingview.com (log scale))
Looking at the weekly chart, Qtum is most likely in the red wave three (blue sub-wave iii). The blue sub-wave three began on November 2, 2017.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Here is a video where Ivan on Tech explains Qtum's hybrid model between Bitcoin and Ethereum.
(Sources: https://qtum.org/en/ and YouTube)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Qtum will takeout the January 7 peak".
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Qtum will drop below the November 2, 2017 low".
If you think Qtum is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Qtum will stay in a trading range between the November 2, 2017 low and the January 7 peak until March 22".
You can upvote the comment until 3 PM EST February 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).
Bonus
I will be sending one Trophy Token to everyone who manages to get these crypto contests right seven times in a row. If/when you accomplish this, please contact me at Steemit Chat with your BitShares address.
Qtum will stay in a trading range between the November 2, 2017 low and the January 7 peak until March 22 (33 voters as of 3 PM EST February 20: helikopterben, glennolua, me-tarzan, heroic15397, simonjay, crokkon, gregory-f, misalen, flemingfarm, lucasgabd, toofasteddie, mgood, me-do, mirda, ahinga, cmoljoe, coolthings, richard78624, diogosantos, skepticology, qmarpot, ragnaros, paul.atreides, ilovefashion, mark.feuerborn, nordina, borban, yefet, abhicrypto, nafazul, heidelbaer, acehnature, elisablogs).
You won.
Qtum will takeout the January 7 peak (32 voters as of 3 PM EST February 20: bleujay, steemquestions, bentleycapital, soundmoney, alexandrya92, allyouneedtoknow, eirik, anetchen, digitalking, fitinfun, sanjay91422, lydon.sipe, dirty.hera, jznsamuel, reconnectnature, bxlphabet, catena, carlosdaniel, immetal6669, koskl, kunschj, barbadosso, mihail.tsvetkov, harryp3, andy23, akandadelwar, criptorafa, portillo, aaawee, notanengenier, utkarshvarma, cata22).
Quantum will take out there are a lot of developments that are on the way.
Qtum will drop below the November 2, 2017 low (9 voters as of 3 PM EST February 20: sqlinsix, ace108, gunsmithing, dlina-v-metrah, starline, cassidyandfranks, costanza, libert, beiker).
I'm feeling very bullish for this week....I bet you can guess my vote
It is nice ewp analysis. It seems clear a ewp 5+3 pattern. I hope your analysis will be succesful
Thanks cryptoewp. Let's hope so..
It´s very possible to take out the peak, but I'm expecting it to hold in trading range for now, because it has 2+ resistance points to go through.
Thanks for the Steem
You are welcome.
Coins mentioned in post:
I think qtum would be in a trading range between the November 2, 2017 low and the January 7 peak until March 18