Crypto Contest June 20: Amp

Amp (Poloniex: AMPUSD) 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, AMP began a red wave one advance on May 23. The red wave one peaked on May 26 and the red wave two correction ended on May 30. The red wave three (blue sub-waves i-ii-iii-iv-v) advance finished on June 16 and the red wave four (blue sub-waves a-b-c) correction ended on June 19. If this wave count is correct, AMP should be heading next towards the June 16 peak in the red wave five.

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

Zooming out in the weekly chart, I believe AMP is currently in the red wave three. The red wave one began in November 2020 and the red wave two correction ended on May 23 this year.

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

Funnymentals

Amp is a digital collateral token that provides instant, verifiable assurance for any real-world application. Donald Lee reviewed the project two months ago.

(Sources: https://amptoken.org/)

How Will Amp Trade?

Amp (Poloniex: AMPUSD) 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.

AMP will takeout the June 16 peak

AMP will drop below the May 23 low

AMP will stay in a trading range between the May 23 low and the June 16 peak until July 27