Crypto Contest December 7: RubyCoin

RubyCoin (RBYUSD) 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, RubyCoin began a wave one advance in August 2016. The red wave one (blue sub-waves i-ii-iii-iv-v) advance finished on October 13 this year, and the red wave two correction ended on November 2. If this wave count is correct, RubyCoin should be heading next towards the October 13 peak in the red wave three.

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

Looking at the monthly chart, I believe RubyCoin is currently in the red wave five (blue sub-wave iii). The red wave five began in August 2016.

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

Funnymentals

RubyCoin is a Proof of Stake (PoS) coin. It looks like their most popular app is a trading bot called TraderDaddy. Please note that I haven't used this app.

(Source: https://www.rubycoin.org/)

If you think this analysis is correct, upvote this post and upvote the comment "RubyCoin will takeout the October 13 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "RubyCoin will drop below the November 2 low".

If you think RubyCoin is in a range, upvote this post and upvote the comment "RubyCoin will stay in a trading range between the November 2 low and the October 13 peak until January 7, 2018".

You can upvote the comment until 3 PM EST December 8 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).