Crypto Contest December 15: Siberian Chervonets

Siberian Chervonets (SIBUSD) has broken out of the triangle pattern in the four-hour chart.

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

Elliott Wave Analysis

In Elliott Wave terms, Siberian Chervonets began a wave one advance on November 6. The red wave one advance finished on November 10, and the red wave two correction ended on November 12. The red wave three advance finished on December 5, and the red wave four correction ended on December 8. If this wave count is correct, Siberian Chervonets should be heading next towards the December 5 peak in the red wave five.

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

If you look at the four-hour line chart, one can see that there is no overlapping between waves one and four.

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

In the weekly chart, I believe Siberian Chervonets is currently in the red wave three (blue sub-wave iii). The blue sub-wave iii began on November 6.

Funnymentals

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(Source: https://sibcoin.money/)

If you think this analysis is correct, upvote this post and upvote the comment "SIBUSD will takeout the December 5 peak".

If you think this analysis is wrong, upvote this post and upvote the comment "SIBUSD will drop below the November 12 low".

If you think SIBUSD is in a range, upvote this post and upvote the comment "SIBUSD will stay in a trading range between the November 12 low and the December 5 peak until January 15, 2018".

You can upvote the comment until 3 PM EST December 16 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).