Crypto Contest August 23: Centrifuge

Centrifuge (KuCoin: CFGUSDT) 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, CFG began a red wave one advance on August 9. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on August 16 and the red wave two (blue sub-waves a-b-c) correction ended on August 18. If this wave count is correct, CFG should be heading next towards the August 16 peak in the red wave three.

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

Zooming out in the four-hour chart, I believe CFG is currently in the red wave three (blue sub-wave iii). The red wave one began on July 25 and the red wave two correction ended on August 9.

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

Funnymentals

Centrifuge is unlocking liquidity for real world assets. Investor Zone reviewed the project two months ago.

(Sources: https://centrifuge.io/)

How Will Centrifuge Trade?

Centrifuge (KuCoin: CFGUSDT) four-hour chart by Tradingview.

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

Prizes

I will be giving upvotes to the correct answers with minimum reputation of 25.

Rules

This poll will expire in one week. Only one vote per person.

Which one will happen first?

Please select one of the three choices and comment below.

CFG will takeout the August 16 peak

CFG will drop below the August 9 low

CFG will stay in a trading range between the August 9 low and the August 16 peak until September 29