Crypto Contest July 9: Perpetual Protocol

Perpetual Protocol (Binance: PERPBTC) 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, PERP began a red wave one advance on April 20. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 20 and the red wave two (blue sub-waves a-b-c) correction ended on June 27. If this wave count is correct, PERP should be heading next towards the May 20 peak in the red wave three.

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

Zooming out in the daily chart, I believe PERP is currently in the red wave three (blue sub-wave iii). The red wave one began on December 27, 2020 and the red wave two correction ended on April 20 this year.

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

Funnymentals

Perpetual Protocol offers decentralized perpetual contracts for every asset. Crypto Renegade covered the protocol back in May this year.

(Sources: https://www.perp.fi/)

How Will Perpetual Protocol Trade?

Perpetual Protocol (Binance: PERPBTC) daily 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.

PERP will takeout the May 20 peak

PERP will drop below the April 20 low

PERP will stay in a trading range between the April 20 low and the May 20 peak until August 15