Crypto Contest May 13: Chia Network

Chia Network (OKEx: XCHBTC) 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, XCH began a red wave one advance on May 6. The red wave one (blue sub-waves i-ii-iii-iv-v) peaked on May 8 and the red wave two (blue sub-waves a-b-c) correction ended on May 10. If this wave count is correct, XCH should be heading next towards the May 8 peak in the red wave three.

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

Funnymentals

Chia Network is a blockchain and smart transaction platform that is easy to use, efficient, and secure. Wes Spencer made a Chia mining tutorial one week ago.

(Sources: https://www.chia.net/)

How Will Chia Network Trade?

Chia Network (OKEx: XCHBTC) 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.

XCH will takeout the May 8 peak

XCH will drop below the May 6 low

XCH will stay in a trading range between the May 6 low and the May 8 peak until June 19