Crypto Contest March 26: Siacoin

Siacoin (SCBTC) 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, Siacoin began a wave one advance on November 2, 2017. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on January 12 this year, and the red wave two (blue sub-waves a-b-c) correction ended on March 18. If this wave count is correct, Siacoin should be heading next towards the January 12 peak in the red wave three.

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

Looking at the weekly chart, I believe Siacoin is currently in the red wave three (blue sub-wave iii).

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

Funnymentals

Siacoin offers decentralized cloud storage. Coin FOMO has made a good introduction video about the project.

(Sources: https://sia.tech/ and YouTube)

If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) "Siacoin will takeout the January 12 peak".

If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) "Siacoin will drop below the November 2, 2017 low".

If you think Siacoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) "Siacoin will stay in a trading range between the November 2, 2017 low and the January 12 peak until May 1".

You can upvote the comment until 3 PM EST March 29 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 (@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.