Crypto Contest May 14: Steem
Steem has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Steem began a wave one advance on April 7. The wave one finished on April 17, and the wave two correction ended on May 2. The wave three advance finished on May 8, and the wave four correction ended on May 9. If this wave count is correct, Steem should be heading next towards the May 8 peak in the wave five.
(Chart courtesy of Tradingview.com)
Looking at the daily chart, I believe Steem is currently in the wave three (sub-wave v).
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Steem will takeout the May 8 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Steem will drop below the May 2 low".
If you think Steem is in a range, upvote this post and upvote the comment "Steem will stay in a trading range between the May 2 low and the May 8 peak until June 9".
You can upvote the comment until 3 PM EST May 15 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). Only participants with a Reputation of 35 or more will qualify in the contest.
Steem will takeout the May 8 peak (13 voters as of 3 PM EST May 15: bleujay, otisbrown, timsaid, dan-atstarlite, twinner, simonjay, steemquestions, soundmoney, cm-steem, eirik, mprgrmmr, cassidyandfranks, ragnaros).
You won.
Steem will stay in a trading range between the May 2 low and the May 8 peak until June 9 (7 voters as of 3 PM EST May 15: me-tarzan, kooshikoo, yefet, ikilledcobain, mirda, andy23, abh12345).
Steem will drop below the May 2 low (5 voters as of 3 PM EST May 15: halo, ace108, starline, avarice, coolthings).
up, up, up! :)
This post has been ranked within the top 80 most undervalued posts in the first half of May 14. We estimate that this post is undervalued by $9.83 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: May 14 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.
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Hehe @maarnio,
posted a similar count yesterday evening in #price chat.
Our friend @wingz doubts that Elliott Wave works.
Maybe we can start next year a trading competition :-)
Very good work. Yes, we can have the competition next year.
I'm thinking about a fair and transparent setup, as described in this comment here https://steemit.com/steemit/@wingz/trading-analysis-circle-jerking-charlatans-or-guys-that-offer-value-gavvet-and-jrcornel#@twinner/re-wingz-trading-analysis-circle-jerking-charlatans-or-guys-that-offer-value-gavvet-and-jrcornel-20170513t115209633z Will need some time to develop it.
Sounds very good.