Crypto Contest December 20: Siacoin
Siacoin has broken out of the daily wedge pattern.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Siacoin has completed one cycle from the December 2015 low. The five wave advance finished on the June 26, and the three wave correction ended on the December 2. If this wave count is correct, Siacoin should be heading next towards the June 26 peak.
(Chart courtesy of Tradingview.com)
Disclosure: I am/we are long Siacoin.
If you think this analysis is correct, upvote this post and upvote the comment "Siacoin will takeout the October 22 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Siacoin will drop below the April 26 low".
If you think Siacoin is in a range, upvote this post and upvote the comment "Siacoin will stay in a trading range between the April 26 low and the October 22 peak until January 16, 2017".
You can upvote the comment until 3 PM EST December 21 and you can upvote only one comment. 300% of Steem (3 X 0.182 STEEM) 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.
Siacoin will stay in a trading range between the April 26 low and the October 22 peak until January 16, 2017 (5 voters as of 3 PM EST December 21: helikopterben, bleujay, yefet, spinbunny, jahtech).
Stay
You won.
Siacoin will takeout the October 22 peak (5 voters as of 3 PM EST December 21: otisbrown, landofcrypto, anotherjoe, bradenford, soundmoney).
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Siacoin will drop below the April 26 low (2 voters as of 3 PM EST December 21: me-tarzan, gregory-f).