Crypto Contest January 12: Status
Status (SNTUSD) 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, Status began a wave one advance on September 15, 2017. The red wave one finished on November 1, 2017, and the red wave two correction ended on November 12, 2017. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on January 4 this year, and the red wave four correction ended on January 11. If this wave count is correct, Status should be heading next towards the January 4 peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Status is an open source mobile DApp browser and messenger built for Ethereum. Here is a short introduction video of Status by The Bitcoin World.
(Sources: https://status.im/ and YouTube)
If you think this analysis is correct, upvote this post and upvote the comment "Status will takeout the January 4 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Status will drop below the January 11 low".
If you think Status is in a range, upvote this post and upvote the comment "Status will stay in a trading range between the January 11 low and the January 4 peak until February 12".
You can upvote the comment until 3 PM EST January 13 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.
Status will stay in a trading range between the January 11 low and the January 4 peak until February 12 (32 voters as of 3 PM EST January 13: bleujay, bentleycapital, simonjay, ace108, glennolua, osmanbugra, twinner, flemingfarm, mprgrmmr, lucasgabd, toofasteddie, catena, komischername, me-do, mihail.tsvetkov, mirda, carlosdaniel, cassidyandfranks, freskil, photo-moment, ragnaros, andy23, tzap90, cryptotem, napkin, kennufromfinland, heidelbaer, moondoge, cata22, yefet, liberton, papakli).
I bet on this
Thank you for participating and resteeming.
Status will takeout the January 4 peak (29 voters as of 3 PM EST January 13: fitinfun, lydon.sipe, steemquestions, eirik, dirty.hera, reconnectnature, digitalking, miniature-tiger, yosaryan, libert, skririm, coolthings, criptorafa, elisablogs, richard78624, koskl, deaconlee, incrediblesnow, diogosantos, karadere, nordina, margaritaradkova, anjelik, barbadosso, kanoe, wallsnow, ilovefashion, heimdallr, sweethoney).
Status will drop below the January 11 low (12 voters as of 3 PM EST January 13: sqlinsix, gregory-f, jznsamuel, crokkon, misalen, mgood, neo-wiza, starline, gunsmithing, ahinga, aschatria, portillo).
This is by no way a negative analyses, I just have an opinion that every new thing plunges a little bit down before taking a full speed.
Anyway I would love to see it in action.
You won.
Thank you @maarnio for holding the contests. They are fun. Winning $1+ isn't a big deal, but the feeling of winning creates a very positive effect psychologically, more than the $1 I just gained which will buy me a coffee. Please continue. I also hope you are earning some money for your work.
Thanks mgood.
I hope you are also learning in the process.
Yes. Learning and finding it useful. My main question is How to integrate this with changes in the fundamentals. Like China closing down exchanges; or internal strife in Tezos where the 2 partners are suing each other; etc.
Most of the news are just noise, which you should try to take advantage of.
If your previous Elliott Wave count becomes invalidated by the news then it is just back to drawing board..
good post
Crypto Contest January 12: Status was added to 12/01/18: Sports contests digest
Also join to NBA Most Points Contest 12/01/18 - Win free SBD
Thanks barbadosso.
you are welcome @maarnio!
At its pick on January 4 Status had a volume around ~$260 million but now it looks like the volume is way less at around $34 million. Do you think this could drive the price against your prediction or somewhat in between?
Usually both the price and volume peaks at the same time.
You could read it as plenty of gas in the tank currently.
If the volume and the price are going up in the same direction YES but in case of Status they are going in different directions check the graph on livecoinwatch.
https://www.livecoinwatch.com/price/Status-SNT
Let's see how this day ends.
Thanks for your informative post !
Thank you Nixon.
Welcome dear ! I am waiting for your next post.
Status will stay in a trading range between the January 11 low and the January 4 peak until February 12
Thank you.
Please upvote the right comment.
I think Status will takeout the January 4 peak.
Thanks.
Please upvote the right comment.
Status will stay in a trading range between the January 11 low and the January 4 peak until February 12.
Thanks.
Please remember to upvote the right comment.